Construction expenses for depreciation
This query is : Resolved
Kollipara Sundaraiah
(Querist)
24 January 2021
Sir,
Assess sec 44ab audit filed person new construction expenses of residential house details mentioned below
1.some construction expenses Rs:6 lacs payment through on cash mode(10,000/- limit per day)
2.some construction expenses Rs:14 lacs payment through on bank mode
Question:
1Assess construction expenses total
rs:14 lacs(bank mode only) or Rs:20 lacs value show in books .
2.construction expenses how to depreciation claimed producer in I.t. act.
3.cash mode construction expenses treatment entries passed in books.
Assess sec 44ab audit filed person new construction expenses of residential house details mentioned below
1.some construction expenses Rs:6 lacs payment through on cash mode(10,000/- limit per day)
2.some construction expenses Rs:14 lacs payment through on bank mode
Question:
1Assess construction expenses total
rs:14 lacs(bank mode only) or Rs:20 lacs value show in books .
2.construction expenses how to depreciation claimed producer in I.t. act.
3.cash mode construction expenses treatment entries passed in books.
CA R SEETHARAMAN
(Expert)
24 January 2021
1 Show 20 lacs.
2 Residential House no depreciation can be claimed.
3 Cash payment within limits pass cash payment entry.
2 Residential House no depreciation can be claimed.
3 Cash payment within limits pass cash payment entry.
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