Purchase of assets above rs. 20000/- by cash ??
This query is : Resolved
Sanjay I Thacker
(Querist)
14 September 2016
HELLO, CAN WE PURCHASE OF FIXED ASSETS ABOVE RS. 20000/- BY CASH IN ONE TIME PAYMENT???
CA R SEETHARAMAN
(Expert)
14 September 2016
Yes we can purchase fixed assets by cash exceeding Rs. 20,000.but if it exceeds 2 lacs TCS will be applicable.
Amol S Joglekar
(Expert)
14 September 2016
No problem. You can go ahead subject to however TCS provisions, applicable from 2 lac
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