Disallowance of expenditure
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2015
IF A MACHINERY WAS PURCHASED FOR RS 50000, AND PAYMENT FOR THE SAME WAS MADE IN CASH, THEN DEPRECIATION ON THIS ASSETS WOULD B ALLOWED OR NOT?
08 September 2015
Yes it will be allowed....
08 September 2015
As long as you have a bill for the machinery purchased there should be no problem in claiming depreciation.
08 September 2015
Dear anonymous,
your subject and question are not in sync.
Yes any revenue expense payment above 20k is disallowed. But if you are capitalising then where is the question of disallowing?
your subject and question are not in sync.
Yes any revenue expense payment above 20k is disallowed. But if you are capitalising then where is the question of disallowing?
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