Capital goods purchase in cash above Rs.20000/-
This query is : Resolved
04 November 2010
In partnership firm, we have purchase computer of Rs.64000/- in cash.
Can we book the payment of Rs.64000/- in same day? It is allowable?
Can we book the payment of Rs.64000/- in same day? It is allowable?
04 November 2010
Dear raviraj
Since payment is made by cash, the depreciation charge will be disallowed by virtue of Sec 40(A)(3)
Since payment is made by cash, the depreciation charge will be disallowed by virtue of Sec 40(A)(3)
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