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Disallow of expense

This query is : Resolved 
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(Querist)
07 August 2021 Dear Sir .

We have purchased a laptop for rs 57000 and whole amount is paid in cash .will this section 40a(3) will apply and entire value of asset will be disallowed .

2. Secondly we have material purchased for Ra 50000 and Rs 18/percent Gst is charged and whole amount is paid in cash .is amount of gst will be disallow
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
07 August 2021 1 Depreciation will not be allowed on the laptop.
2 Under GST you can claim ITC on the purchase. Under income tax the purchase expenses will be disallowed.
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