Depreciation claim on asset value


(Querist)
10 November 2019
A doctor purchase of asset (dental chair equipment) value Rs.125000/-.
Amount Rs.25000/- paid in cash mode per day.
Balance amount Rs.100000/- by RTGS mode paid.
Doubt: person depreciation claim on asset value.


CA R SEETHARAMAN (Expert)


Click to Talk 11 November 2019
Depreciation can be claimed on 1 lac only.

Gokul Sharma (Expert)
12 November 2019
MEANS SIR 25000 DISALLOWED AS PAID IN EXCESS OF 10000 CASH IN ONE DAY.


CA R SEETHARAMAN (Expert)


Click to Talk 12 November 2019
Yes............................

kollipara sundaraiah (Querist)
12 November 2019
how to pass on accounting entries

CA R SEETHARAMAN (Expert)


Click to Talk 12 November 2019
Capitalise and depreciate in books 1,25,000. But claim depreciation under income tax for 1 lac only.


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