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Cash payment above 20000 for capital goods.

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13 May 2013 If a person made cash payment of more than 20000 for purchase of capital goods . then in such case if the depreciation will be disallowed or not? u/s 40(A)(3) of Income Tax Act.

Please reply soon.

Thanks in advance.
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kunal

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kunal (Expert)
13 May 2013 SECTION 40A(3) does not apply to purchase Capital goods. it deals with only purchase of revenue items.

therefore no disallowance of depreciation..

thanks!

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