Respected sir/Mam,
Mode of cash payment is possible in purchase of fixed assets what are the limit to invest amount while purchasing
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Fixed assets
Replies (5)
cash payment limit is same for all the thing i.e 10,000 now . you can not payment more than 10000 for a bill whether for exp or asset or purcahse otherwise will be disallowed.
As per section 40A(3), any expenses will be disallowed if it exceeds Rs 10000 to any person in a day in cash
Thank you
yes that true if purchase or spend money against any expenditure amount exceeding 10000 then as per section 40A(3) is disallowed in it act
Its my personal opinion, if anybody have different view then views are welcome. thanks. Disclaimer: its not Professional Advice.
Its my personal opinion, if anybody have different view then views are welcome. thanks. Disclaimer: its not Professional Advice.
in respect of fixed assets, if the fixed assets are purchased in cash in excess of 10000, proportionate depreciation pertinent to the fixed assets will be disallowed
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