Deduction u/s 80c
This query is : Resolved
12 June 2019
Sir
I have paid my insurance premium in cash of Rs5000/-. Can I claim deduction u/s 80c for it.
Pl advise.
Regards
I have paid my insurance premium in cash of Rs5000/-. Can I claim deduction u/s 80c for it.
Pl advise.
Regards
12 June 2019
Yes,...................
KAVIRAJA ADDANGADI
(Expert)
12 June 2019
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.
13 June 2019
Sir
If I purchase any fixed assets viz mobile for Rs7000/ in cash. Can the Company take depreciation on that amount.
Pl guide.
Regards
If I purchase any fixed assets viz mobile for Rs7000/ in cash. Can the Company take depreciation on that amount.
Pl guide.
Regards
KAVIRAJA ADDANGADI
(Expert)
13 June 2019
Better not to capitalise fixed asset. If bill obtained company name write off as expenses.
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