banner_ad

Depreciation

This query is : Resolved 
Profile Image

Profile Image

(Querist)
10 January 2011 My client has done furniture and fittings in the office, and has paid him cash for the entire amount of Rs.140000/- in 4 Installments and it also includes 31000/- labour charges.The bill is in normal paper giving the detail of expenses and thereby paymnt is made

My question is
1) whether dep will be allowable under IT Act on ? Since Cash is paid for FA?

2) Whether TDS needs to be deducted on 31000 or the whole amount ?

3) whether companies act contain any provision for FA regarding cash payment?

Pls answer this query with reason.
Profile Image

CA Nitish Jain

Profile Image

CA Nitish Jain (Expert)
11 January 2011 TDS is required to be deducted on 31000/- if separate bill is available. if separate bill of labor is not available, no TDS is required to be deducted.
Profile Image

pradeep

Profile Image

pradeep (Querist)
12 January 2011 sir,
can u give me any strong reason for not allowing the depreciation under IT act,and if u have any supporting case law then pls provide me for the same
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details