Depreciation claim on asset value
This query is : Resolved
10 November 2019
A doctor purchase of asset (dental chair equipment) value Rs.125000/-.
Amount Rs.25000/- paid in cash mode per day.
Balance amount Rs.100000/- by RTGS mode paid.
Doubt: person depreciation claim on asset value.
Amount Rs.25000/- paid in cash mode per day.
Balance amount Rs.100000/- by RTGS mode paid.
Doubt: person depreciation claim on asset value.
11 November 2019
Depreciation can be claimed on 1 lac only.
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12 November 2019
MEANS SIR 25000 DISALLOWED AS PAID IN EXCESS OF 10000 CASH IN ONE DAY.
12 November 2019
Yes............................
12 November 2019
how to pass on accounting entries
12 November 2019
Capitalise and depreciate in books 1,25,000. But claim depreciation under income tax for 1 lac only.
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