1.Payment up to 10,000 in Cash, capitalised and claim depreciation.
2. Payment more than 10,000 in cash, can't claim depreciation u/s 32 and and can't add cash amount in cost of fixed assets as per section 43 of IT act, 1961.
If active price 50 thousand scheme coupan 21 thousand nd remaining amount paid in cash then we can add only 21 thousand amount on cost under head fixed assets
As per the provisions of income tax if you purchase an asset exceeding rupees 10000 then depreciation will not be allowed on such asset.
but the exact term used in the income tax are are the actual amount paid in cash exceeding 10000 will not allowed. so if you have paid any amount in other than cash mode you can claim depreciation only on such amount.
the other way to charge depreciation is pay cash instalments below 10000 in a day.
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