we are a pvt ltd company, company purchased one of the LCD TV Rs 52000 ,& benz car warrenty extention renewed Rs 57000 ,..but bills are paid in cash
whether its come under the exceeding 20000 section or not, any exception
20000 exceeding payment
Replies (1)
I think Fixed assets can be purchased for cash as there cannot be any disallowance. Hence LCD TV purchase for cash is fine. But warranty extension of car is treated as an expense and shall be disallowed.
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
