Dear Sir,
we have purchase fixed assets in cash invoice value Rs.14325 can we Claim deperication. Kindly advise
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Fixed assets Cash purchase
Replies (4)
Quick Summary
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.
Thank you
Please wait for others Opinion or take others opinion as well
Fixed asset cash purchase not possible sec 43(1)
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