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Deduction u/s 80c

This query is : Resolved 

Sir
I have paid my insurance premium in cash of Rs5000/-. Can I claim deduction u/s 80c for it.
Pl advise.
Regards


Yes,...................

In order to claim a benefit of insurance under 80C, the premium can be paid in any form, such as cash, cheque or account transfer.

Sir
If I purchase any fixed assets viz mobile for Rs7000/ in cash. Can the Company take depreciation on that amount.
Pl guide.
Regards

Better not to capitalise fixed asset. If bill obtained company name write off as expenses.


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