Depreciation on capital asset purchased in cash
This query is : Resolved
11 July 2018
Hello Experts, I have purchased Furniture costing Rs. 130000/- & payment made in steps less than 10000/- in a day. What should be the cost of the asset for the purpose of depreciation. Is there any dis allowance of capital expenditure or depreciation. Waiting for reply. Thank you.
11 July 2018
Cost is 1,30,000.
Can be depreciated.
No disallowance.
Inference - proviso to section 43(1).
Can be depreciated.
No disallowance.
Inference - proviso to section 43(1).
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Gst Sales of FY 2023-24
- Legal heir raised refund , but refund issued to the closed account of deceased.
- My Last working day in current org is in novemebr 2024 but they are asking me to submit IT proof
- Indexation benefit applicability
- SEC 54 OF IT ACT
- Passed group 2 exams under wrong gender
- REQUIREMENT OF 15CB
- QUERY FOR RCM ON RENT
- APPEAL-CIT
- Payable outstanding for years disallowance
- Whether still royalty
- Issue of gst e invoice
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
