(a) If assessee has purchased a machinery and has hired a truck to transport it to his place of business and has paid Rs. 39,000 to the hire vendor by cash, then will the payment be added to the coat of machinery?
(b) What will be the answer if in part (a) above, instead of Rs.39,000 the assessee has paid Rs.12,000 by cash?
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Actual Cost u/s 43(1)
Replies (1)
35000 limit u.s 40A(3) and 10000 in 43(1). Depreciation will not be available for the cash portion and actual cost will be restricted accordingly.
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