Depreciation claim on asset value
This query is : Resolved
Kollipara Sundaraiah
(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.
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)
11 November 2019
Depreciation can be claimed on 1 lac only.
Message likes :
1 times
Gokul Sharma
(Expert)
12 November 2019
MEANS SIR 25000 DISALLOWED AS PAID IN EXCESS OF 10000 CASH IN ONE DAY.
CA R SEETHARAMAN
(Expert)
12 November 2019
Yes............................
Kollipara Sundaraiah
(Querist)
12 November 2019
how to pass on accounting entries
CA R SEETHARAMAN
(Expert)
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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