40 a (3)
This query is : Resolved
19 January 2012
Is deprecication claimed by a builder for land and building will disallowed because of the reason that he paid cash for acquire the same.
20 January 2012
Section 40A(3) is not applicable to depreciation because depreciation is a non-cash expenditure.
Just becuase payment for acquiring fixed assets was made in cash, Section 40A(3) cannot be applied to depreciation on that asset.
Just becuase payment for acquiring fixed assets was made in cash, Section 40A(3) cannot be applied to depreciation on that asset.
20 January 2012
Sec40A(3) is not applicable in your case.
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