Computers to be purchased in cash for pvt ltd co
This query is : Resolved
15 July 2012
hi all,
i m working in pvt ltd co and we want to buy computers amt to rs 250000/- can we buy it in cash is there any problem in income tax and if yes does it affect while claiming depreciation on that computers
i m working in pvt ltd co and we want to buy computers amt to rs 250000/- can we buy it in cash is there any problem in income tax and if yes does it affect while claiming depreciation on that computers
CA PARAS BAFNA
(Expert)
15 July 2012
Does the Pvt Ltd company not have a bank account or sufficient balance therein ?
.
To purchase in cash creates suspicion in the minds of not only of the Tax Authorities but also of a common man.
.
However, depreciation can be claimed and is allowable.
.
.
To purchase in cash creates suspicion in the minds of not only of the Tax Authorities but also of a common man.
.
However, depreciation can be claimed and is allowable.
.
15 July 2012
thanks for your advice
we have bank accounts but just want to ask if we can buy it in cash or no
we have bank accounts but just want to ask if we can buy it in cash or no
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