Depreciation on capital asset purchased in cash
This query is : Resolved
11 July 2018
Hello Experts, I have purchased Furniture costing Rs. 130000/- & payment made in steps less than 10000/- in a day. What should be the cost of the asset for the purpose of depreciation. Is there any dis allowance of capital expenditure or depreciation. Waiting for reply. Thank you.
11 July 2018
Cost is 1,30,000.
Can be depreciated.
No disallowance.
Inference - proviso to section 43(1).
Can be depreciated.
No disallowance.
Inference - proviso to section 43(1).
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