sec 40a(3) regarding fixed assets

Tax queries 6054 views 16 replies

if  fixed asset is purchased by cash then  how depreciation is applied under income tax act

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if  fixed asset is purchased by cash then  how depreciation is applied under income tax act

Sir if i pirchase asset u/s 35 for scientific reasearch on cash payment of 50000 then will it be allowed as deduction or disallowed as per sec 40A(3)


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