Controversy about sec. 40a
This query is : Resolved
18 August 2011
If we purchase car by making cash payment of Rs. 4 lacs then as per sec. 40A such transaction is allowable but whether depreciation on car is also allowable??? Sec. 40 A is applicable to expenditure. Whether depreciation is expenditure or allowance???
18 August 2011
Depreciation is an allowance,hence disallowance will not sustain.
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