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Depreciation

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(Querist)
12 July 2009 If the fixed asset is purchased by cash exceeding Rs.50,000/-. Will depreciation be allowed on that asset or not ?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
12 July 2009 Will be allowed u/s 32 of the Income tax Act,1961.
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Parikh Navin Keshavlal

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Parikh Navin Keshavlal (Querist)
12 July 2009 Thanks a lot for ur prompt reply

Navin K.Parikh
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