Menu
Assets purchased in cash
I have purchased assets in cash.... whether it will be included in Block of assets or not .......???
Replies (6)
cash cant be paid more than 10,000 per person per transaction
that's right but what if when we have purchased assets in cash..... for income tax audit purpose....
WHAT IS THE ASSETS??
same will not be added in the cost of asset by virtue of explanation 1 to section 43(1) of IT act as ammended by FA 2018.
mobile purchased during the year...
u can't capitalize the same in books
Recent Topics :
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
- Last Date To Fill ITR For Non-Audit Case
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
- Clarification Regarding Income Tax Demand Notice
- Online PAN Download: Check How?
- Demand of Late fee/Interest under section 75 of GS
- DSC registration on TRACES portal
- Can we get registered for MCA if we get a Virtual
Related Topics :
CAclubindia
