Fixed assets Cash purchase

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Pivate
1486 Points Joined July 2019
Dear Sir,

we have purchase fixed assets in cash invoice value Rs.14325 can we Claim deperication. Kindly advise
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On 23 September 2022 at 08:29 Report
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GST Practitioner & Accounts
15022 Points Joined March 2014

As per section 43(1) of the Income tax act, Cash purchase of an asset for more than 10000/-, depreciation is disallowed. please  refer section 43(1) for more details.

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On 23 September 2022 at 09:08
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Pivate
1486 Points Joined July 2019
Thank you
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On 23 September 2022 at 09:21
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GST Practitioner & Accounts
15022 Points Joined March 2014

Please wait for others Opinion or take others opinion as well 

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On 23 September 2022 at 10:27
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28018 Points Joined May 2017
Fixed asset cash purchase not possible sec 43(1)
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On 26 September 2022 at 17:23


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