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Section 40a(3)

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(Querist)
14 March 2012 As per Section 40(A)(3) if any asset purchased by way of cash exceeding more than Rs. 20,000/- then depreciation on that is disallowed in that year. My Question is whether in subsequent year depreciation is allowable on that assets????
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CA Dileep Surya Kumar

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CA Dileep Surya Kumar (Expert)
14 March 2012 Section 40(A)(3) is not applicable in case of assets.
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Mihir Doshi

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Mihir Doshi (Expert)
14 March 2012 Dear
Section will not be applicable when Asset is acquired / purchased.

Thanks
Mihir Doshi
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Amit Bansal

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Amit Bansal (Querist)
31 March 2012 @Mihir Doshi
Sir what about depreciation on that asset in subsequent year.

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