Depriciation
This query is : Resolved
01 June 2011
If any asset is purchased in Cash..Then depriciation on such asset will be disallowed in excess of Rs.20,000 as it amounts to expense incurred indirectly in Excess of Rs. 20,000...
However this is not clearly mentioned anyway in Act.....
Is it possible or not?????????/
However this is not clearly mentioned anyway in Act.....
Is it possible or not?????????/
01 June 2011
Not possible because depreciation is not an expense but an allowance.
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