Section 40A (3) is applicable to section 30-37, Hence depreciation shall not be allowed if it is cash purchase of fixed asset.
Menu
Payment in cash in excess of rs 20,000/-
Thanks for the clarifications
yes it is allowed because as u have incurred expenditure of capital nature and u r eligible to debit the depreciation in P&L a/c and the same will be allowed to u..but it is prefreble that FA should not be purchased from cash.
Recent Topics :
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
Related Topics :
CAclubindia
