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Purchase of assets above rs. 20000/- by cash ??

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(Querist)
14 September 2016 HELLO, CAN WE PURCHASE OF FIXED ASSETS ABOVE RS. 20000/- BY CASH IN ONE TIME PAYMENT???
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CA R SEETHARAMAN

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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.
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Amol S Joglekar

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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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