Section 40a(3)
This query is : Open
14 March 2012
As per Section 40(A)(3) if any asset purchased by way of cash exceeding more than Rs. 20,000/- then depreciation on that is disallowed in that year. My Question is whether in subsequent year depreciation is allowable on that assets????
14 March 2012
Section 40(A)(3) is not applicable in case of assets.
14 March 2012
Dear
Section will not be applicable when Asset is acquired / purchased.
Thanks
Mihir Doshi
Section will not be applicable when Asset is acquired / purchased.
Thanks
Mihir Doshi
31 March 2012
@Mihir Doshi
Sir what about depreciation on that asset in subsequent year.
Sir what about depreciation on that asset in subsequent year.
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