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Whether asset can be purchased by paying cash?

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 October 2013 50000
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CA Rinkal

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CA Rinkal (Expert)
31 October 2013 you can purchase fixed assets for any amount.


the limitation of disallow will not applied in case of fixed assets
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
31 October 2013 Yes you can. But remember, the source of this cash should be established!!
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
31 October 2013 No problem..
You can purchase asset in cash..
Sec 40a3 not attracted....

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