Fixed asset purchased in cash
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 August 2015
Dear sir
Can we purchase fixed asset of more than 20,000 in cash??
Can we purchase fixed asset of more than 20,000 in cash??
10 August 2015
Yes, you may do so, no issues. And why fixed assets, you can spend cash on revenue expenditure as well.
10 August 2015
You can purchase fixed assets in cash without attracting the provisions of Section 40A(3).
However revenue expenditure incurred in cash excess of Rs. 20,000/- will attract the provisions of Section 40A(3).
However revenue expenditure incurred in cash excess of Rs. 20,000/- will attract the provisions of Section 40A(3).
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
- Tax on capital gains revoked us 54f
- Refund of AY 22-23
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- Confusion around Form 26QB fields
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Return material
- TDS is applicable on payment of Fix Meal
- Form ITC 04
- TDR receipts for agreement holder
- Point (III) 9 of GSTR-9C
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
