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Question ID : 40420

Payment in parts

A person purchases Fixed asset value 19000- but makes cash payment 10000- on date of purchase and 9000 on next day. Whether this is ok for income tax .

Posted by Mahesh Kumar on Oct 06, 2019

Filed Under DIRECT TAXES

Answer ID : 80206

OK. Expenditure will not be disallowed under 40A(3) being a capital expenditure.

Posted by B.CHACKRAPANI WARRIER on Oct 13, 2019