Re: [aaykarbhavan] Section 40A(3)

DEAR THERE IS A DEPRECIATION DISALLOWANCE AND THERE IS NO CASE STUDY AND NOTIFICATION.

---

From: Karim Meghani <karim.m.meghani@gmail.com>
To: "aaykarbhavan@yahoogroups.com" <aaykarbhavan@yahoogroups.com>; "aaykarbhavan@googlegroups.com" <aaykarbhavan@googlegroups.com>; "djshah1944@yahoo.com" <djshah1944@yahoo.com>
Sent: Friday, 26 July 2013 5:08 PM
Subject: [aaykarbhavan] Section 40A(3)

 

 

 Hi,

This is regarding section 40A(3) of the Income Tax Act. If payment is made more than Rs.20000 in cash then the expenditure is to be disallowed subject to conditions in Rule 6DD. But what if the payment more than Rs.20000 is made for a fixed asset? whether the depreciation will be disallowed (depreciation disallowance is given in the Ready Reckoner) or is it allowed and nothing is to be done.

I think there is some circular for the same.
 

Awaiting Reply,

Karim

__._,_.___

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

__,_._,___