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Capital expenditure paid in cash

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141 Points Posted on 11 August 2019
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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On 11 August 2019 at 07:38 Report
Replies (9)
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Team Lead
7558 Points Posted on 11 August 2019
not allowable
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On 11 August 2019 at 07:58
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141 Points Posted on 11 August 2019
If is not allowed then how can we treat those assets in books of accounts
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On 11 August 2019 at 09:04
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Team Lead
7558 Points Posted on 11 August 2019
you can show them as assets but expenses wud get added back to income
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On 11 August 2019 at 09:06
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141 Points Posted on 11 August 2019
And depreciation cannot be claim ever for those assets right..
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On 11 August 2019 at 09:07
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Team Lead
7558 Points Posted on 11 August 2019
yes you can claim
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On 11 August 2019 at 10:22
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141 Points Posted on 11 August 2019
When the capital expenditures disallowed then what is the procedure for claim depreciation
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On 11 August 2019 at 10:25
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7059 Points Posted on 11 August 2019
good clarification and information
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On 11 August 2019 at 13:56
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205 Points Posted on 11 August 2019
Depreciation can't be claimed on these assets
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On 11 August 2019 at 22:12
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141 Points Posted on 12 August 2019
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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On 12 August 2019 at 08:20


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