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Depreciation
can i claim depreciation on fixed asset which is purchased through cash payment amounting to Rs.10,000/-
Replies (3)
Is the sum included in the cost of the assets..... if no then you cannot claim
Yes you can claim. however the expense on purchase of assets in cash will be disallowed
Cash Payment more than 10,000 not allowed..
As your cash payment is up to 10,000 than you can claim depreciation on same...
You can not claim depreciation on GST amount, if you claim ITC of GST. i.e if claim ITC, than depreciation allowed only on Amount excluding GST.
As your cash payment is up to 10,000 than you can claim depreciation on same...
You can not claim depreciation on GST amount, if you claim ITC of GST. i.e if claim ITC, than depreciation allowed only on Amount excluding GST.
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