Dear Team,
We are doing a business.
We paid total cash of Rs.800000/-
To purchase an assets for the business.
Is this allowable exp as per income-tax act kindly suggest me.
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Capital expenditure paid in cash
Replies (9)
not allowable
If is not allowed then how can we treat those assets in books of accounts
you can show them as assets but expenses wud get added back to income
And depreciation cannot be claim ever for those assets right..
yes you can claim
When the capital expenditures disallowed then what is the procedure for claim depreciation
good clarification and information
Depreciation can't be claimed on these assets
KINDLY SUGGEST ME HOW TO ACCOUNT THESE ASSETS IN BOOKS... OR IT'S BETTER TO NOT TO SHOW THESE IN BOOKS?
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