can i purchase fixed assets in cash


This query is : Resolved 

23 December 2009 dear sir

Pls clear

can i purchase a fixed assets in cash
and how much amount i can invest in cash
what loss i will get in the transaction

23 December 2009 If your income is from salary; you can buy fixed assets in cash.

If you are buying fixed assets (except land) which are likely to be used in business and on which depreciation will be claimed; then of course; to avoid litigation; you should not buy in cash.

When you ask about loss; first tell what benefits you are likely to get when you buy it in cash.

People tend to transact in cash only because they are not having banking habits.

Buying through banking channel is more safe and evidence is there that you paid that much amount to someone.

23 December 2009 completely agree with Sir Rakhecha.


23 December 2009 agree


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