Disallowance under Section 40A (3)
This query is : Resolved
Gaurav Joshi
(Querist)
11 July 2009
In case of Fixed Assets of an amount exceeding Rs. 20,000/- purchased fully in cash, Whether Depreciation on such asset be allowed under section 32.
Ram Avtar Singh
(Expert)
11 July 2009
You can purchase Fixed assets more than 20000/= its admisable
11 July 2009
the section is not applicable in case of fixed assets
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