Related to Busi. N Prof.
Section 35-Expenditure on scientific research.
how much deduction will be allowed on the purchase of capital assets on installment
either 100% of cost of capital assets or as per installment pament i.e. partly
3 Replies
Poornima
(Search on.... for knowledge)
(129 Points)
Replied 06 March 2010
| Originally posted by : Uday Kiran | ||
 |
Its one time dedcution, no instalmets |
 |
Amir
(Learner)
(4016 Points)
Replied 06 March 2010
Dear Kailash,
Deduction is available in respect of CAPITAL EXPENDITURE & not in respect of PAYMENT FOR CAPITAL EXPENDITURE.
So if asset is acquired & only payments r made in installments den deduction can be claimed in respect of entire amount.
CA Mohit Agrawal
(Chartered Accountant)
(371 Points)
Replied 06 March 2010
but amir if asset is purchased on hire purchase than also whole amount can be calimed as deduction
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