Construction value and depreciation calim in i.t.act

Kollipara Sundaraiah (B.com) (2963 Points)

15 February 2021  

sec 44ab audit file i.t. return assess new construction for commerical building  strated in f.y.20-21

1.Some construction expenses Rs:5 lacs payment through on cash mode paid (rs:10,000/- above limit per day)

2. Some construction expenses Rs:15 lacs payment through on bank mode paid.

Questions:

1.Assess construction expenses value in books rs:15 lacs or Rs:20 lacs show in books and balance sheet.

2.Construction expenses cash mode pay vaule depreciation claimed allowed in i.t.act.