Payment made in cash for old truck
This query is : Resolved
23 February 2013
Dear sir,
We are a LTD Co. and purchased an old truck by rs. 1150000/- and issued a cheque Of Rs. 500000/- and balance payment made by us Rs. 150000/- in cash and remaining th. cheque. My question is Rs. 150000 is allowable or not ?
We are a LTD Co. and purchased an old truck by rs. 1150000/- and issued a cheque Of Rs. 500000/- and balance payment made by us Rs. 150000/- in cash and remaining th. cheque. My question is Rs. 150000 is allowable or not ?
23 February 2013
Hi,
Since it is capital expenditure & not revenue so dis-allowance is not attracted.
Thanks!!
Since it is capital expenditure & not revenue so dis-allowance is not attracted.
Thanks!!
Guest
Guest
(Expert)
23 February 2013
YES,
YES IT IS ALLOWABLE ALWAYS.......
SINCE SEC 40(A)(3) WILL NOT BE APPLIED
YES IT IS ALLOWABLE ALWAYS.......
SINCE SEC 40(A)(3) WILL NOT BE APPLIED
23 February 2013
THANKS TO VAIBHAV SIR AND ASHISH SIR
REGARDS
FOR JAGDISH CIONSTRUCTION LTD.
VARDAN SINGH
REGARDS
FOR JAGDISH CIONSTRUCTION LTD.
VARDAN SINGH
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