Disallowance u/s 40A(3)
This query is : Resolved
11 December 2009
If a fixed asset is purchased for a one time cash payment exceeding the limit of above section then should depre on such asset be disallowed u/s 40A(3)?cause provision says that no deduction on such expenditure will be allowed & depre is just a form deferment of such deduction
12 December 2009
Dear sir
yoy have mentioned in you question
u/s 40A(3)?cause provision says that no deduction on such expenditure will be allowed
Then Fixed Assets Not Expenditure. it not com under purview of sec40A(3)
yoy have mentioned in you question
u/s 40A(3)?cause provision says that no deduction on such expenditure will be allowed
Then Fixed Assets Not Expenditure. it not com under purview of sec40A(3)
12 December 2009
agree. and as per my Concern, you have Purchased a fixed assets by cash that means you have done capital expenditure so disallowed expenditure.
12 December 2009
Mr.Singh,
But in rhe form of Depreciation you are charging it P&l.There is deferral of such
deduction.Purchase of FA is a capital expenditure & provision is not specifically to Revenue items only
But in rhe form of Depreciation you are charging it P&l.There is deferral of such
deduction.Purchase of FA is a capital expenditure & provision is not specifically to Revenue items only
14 December 2009
We can purchase Fixed Assets for any amount in cash. Sex0A (3) is not applicable for purchase of Fixed Assets. Depreciation will be allowed.
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?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
