cash payment above 20000 for capital asset
This query is : Resolved
19 February 2011
If capital asset is purchased in cash paying more than Rs 20000/- whether depreciation is disallowed on such asset u/s 40a.......pls give case law, if any....
20 February 2011
Depreciation is allowed even when payment of capital asset is made in cash.
Section 40A(3) is applicable for payments of revenue expenses , which are generally debited to Profit & Loss A/c.
Section 40A(3) is applicable for payments of revenue expenses , which are generally debited to Profit & Loss A/c.
Guest
Guest
(Expert)
20 February 2011
Very much agree with Bafna Ji.
22 February 2011
Hi,
Agree with Experts
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Agree with Experts
Regards
CA.Lohith.J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
