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Depreciation claim on asset value

This query is : Resolved 

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.


Depreciation can be claimed on 1 lac only.

MEANS SIR 25000 DISALLOWED AS PAID IN EXCESS OF 10000 CASH IN ONE DAY.


Yes............................

how to pass on accounting entries

Capitalise and depreciate in books 1,25,000. But claim depreciation under income tax for 1 lac only.


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