Cash payment 40a(3)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 June 2014
If an assessee makes payment of Rs. 600000/- for purchase of machinery in cash then deprication is disallowed for one year or every year.
23 June 2014
dear
there is exception to this section regarding payment in cash
one is that purchase of machinery.
so there is no matter of disallow of depreciation in case of machinery purchase by cash.
there is exception to this section regarding payment in cash
one is that purchase of machinery.
so there is no matter of disallow of depreciation in case of machinery purchase by cash.
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