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Depreciation

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8 Points Posted on 02 October 2020
can i claim depreciation on fixed asset which is purchased through cash payment amounting to Rs.10,000/-
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On 02 October 2020 at 23:35 Report
Replies (3)
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Tax consultant
5895 Points Posted on 02 October 2020
Is the sum included in the cost of the assets..... if no then you cannot claim
57 Reply
On 02 October 2020 at 23:48
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Team Lead
7558 Points Posted on 03 October 2020
Yes you can claim. however the expense on purchase of assets in cash will be disallowed
30 Reply
On 03 October 2020 at 00:55
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Tax and Business Consultant
11616 Points Posted on 04 October 2020
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.
66 Reply
On 04 October 2020 at 09:54


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