Activa income tax
ABHI KUMAR (710 Points)
17 January 2021
cash m activa li hai depreciation allowed hoga
7 Replies
Kapadia Pravin
(17259 Points)
Replied 17 January 2021
Cash or cheque, depreciation is allowed. It should be used for your business.
ABHI KUMAR
(710 Points)
Replied 17 January 2021
Ok thanks but use nai ho rai business m to fixed asset m dikhana jaruri h kya
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 17 January 2021
Yes it should be shown
Atul M
(aaa)
(729 Points)
Replied 17 January 2021
1.Payment up to 10,000 in Cash, capitalised and claim depreciation.
2. Payment more than 10,000 in cash, can't claim depreciation u/s 32 and and can't add cash amount in cost of fixed assets as per section 43 of IT act, 1961.
2. Payment more than 10,000 in cash, can't claim depreciation u/s 32 and and can't add cash amount in cost of fixed assets as per section 43 of IT act, 1961.
ABHI KUMAR
(710 Points)
Replied 17 January 2021
If active price 50 thousand scheme coupan 21 thousand nd remaining amount paid in cash then we can add only 21 thousand amount on cost under head fixed assets
Krishna Chaudhary
(Accountant)
(4531 Points)
Replied 18 January 2021
As per the provisions of income tax if you purchase an asset exceeding rupees 10000 then depreciation will not be allowed on such asset.
but the exact term used in the income tax are are the actual amount paid in cash exceeding 10000 will not allowed. so if you have paid any amount in other than cash mode you can claim depreciation only on such amount.
the other way to charge depreciation is pay cash instalments below 10000 in a day.
but the exact term used in the income tax are are the actual amount paid in cash exceeding 10000 will not allowed. so if you have paid any amount in other than cash mode you can claim depreciation only on such amount.
the other way to charge depreciation is pay cash instalments below 10000 in a day.
veerendar singh
(tax consultant)
(3301 Points)
Replied 20 January 2021
Cash me liya ha to balance sheet me na dikhao to acha ha
Recent Topics
- Linking adhaar to UAN without employer
- WHETHER ITC REVERSAL TH. GSTR 3B OR DRC03
- Advance Tax For Freelancers
- Is fvu 8.8 version available ?
- Interest and penalty on advance tax shortfall
- Joint Account with 3 legal heirs.......
- TCS adjustment
- GST audit and scrutiny
- GSTR9 Table 8 - 8A and 8B difference is 4D(1). in
- Eway Bill query for inter state
Related Threads
CAclubindia
