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Expenses u/s 40a

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28 March 2012 are payments excess 20000 in cash against purchases renovation of building allowable under IT act.
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CA Gaurav Agarwal

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CA Gaurav Agarwal (Expert)
28 March 2012 Yes, if the expenditure is in the nature of Capital expenditure like purchase of Building then it is allowable.
If renovation exp. on building is also of capital nature then allowable otherwise not

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