Disallowance of expenditure

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 September 2015 IF A MACHINERY WAS PURCHASED FOR RS 50000, AND PAYMENT FOR THE SAME WAS MADE IN CASH, THEN DEPRECIATION ON THIS ASSETS WOULD B ALLOWED OR NOT?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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08 September 2015 Yes it will be allowed....

praveen

praveen (Expert)
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08 September 2015 As long as you have a bill for the machinery purchased there should be no problem in claiming depreciation.

Kaushik Joshi

Kaushik Joshi (Expert)
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08 September 2015 Dear anonymous,
your subject and question are not in sync.
Yes any revenue expense payment above 20k is disallowed. But if you are capitalising then where is the question of disallowing?