Can fixed asset purchased in cash
This query is : Resolved
31 July 2018
Hello Expert,
Can I purchase fixed asset in cash (Total Value Rs. 100000/-) and make payment in installment in cash below Rs.10000/- per day. Can I avail depreciation on the fixed asset.
Can I purchase fixed asset in cash (Total Value Rs. 100000/-) and make payment in installment in cash below Rs.10000/- per day. Can I avail depreciation on the fixed asset.
31 July 2018
If payment is settled by way of cash payments upto Rs. 10000 perday,you can claim depreciation.
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