Payment of equipment treated fixed or business expenses
This query is : Resolved
03 January 2022
Sir,
A it person purchase of equipment value payment different dates no invoice received.
Payment rs:1 lacs dt:10-06-20
Payment rs:2 lacs dt:25-06-20
Payment rs:1,50,000/- dt:20-07-20
Payment rs:2 lacs dt:26-07-20.
Question:
1.A person above mentioned purchase of equipment values business expenses or fixed assets treatment in books in it act.
2.fixed assets treatment depreciation claim allowed in it act.
A it person purchase of equipment value payment different dates no invoice received.
Payment rs:1 lacs dt:10-06-20
Payment rs:2 lacs dt:25-06-20
Payment rs:1,50,000/- dt:20-07-20
Payment rs:2 lacs dt:26-07-20.
Question:
1.A person above mentioned purchase of equipment values business expenses or fixed assets treatment in books in it act.
2.fixed assets treatment depreciation claim allowed in it act.
03 January 2022
1. Fixed asset, invoice required for the equipment.
2. Depreciation not allowed.
3. The seller cannot accept the cash amount for any single equipment.
2. Depreciation not allowed.
3. The seller cannot accept the cash amount for any single equipment.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR validation error - Balance sheet is not filled
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Bank Accounts in Balance Sheet for ITR 3
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
