I purchased a mobile phn last year after year ending.
can I show it in asset for individual ITR 3 filing 2019-20 and what value I should put now , I purchased at 10999 rs?
Thanks.
In this case, Mobile is purchased after the year end then Cut Off procedure should be followed and this expense is regarded as Personal Expense .So it should not be shown in Balance Sheet Asset side of Rs.10999.
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