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Disallowance under Section 40A (3)

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(Querist)
11 July 2009 In case of Fixed Assets of an amount exceeding Rs. 20,000/- purchased fully in cash, Whether Depreciation on such asset be allowed under section 32.
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
11 July 2009 You can purchase Fixed assets more than 20000/= its admisable
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
11 July 2009 the section is not applicable in case of fixed assets
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