Capital expenditure - Change in the Definition of Actual Cost u/s 43(1) - Disallowance of depreciation where payment is made in excess of ₹ 10,000 in a day - Budget 2017-18 w.e.f. AY 2018-19
3 February, 2017
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Restriction on cash payments for capital expenditure conditions recognition of actual cost and depreciation claims on payment mode compliance. Amendment adds a proviso to section 43(1) that excludes from the actual cost for depreciation any expenditure on acquisition of an asset where payments to ... Summary
Restriction on cash payments for capital expenditure conditions recognition of actual cost and depreciation claims on payment mode compliance.
Amendment adds a proviso to section 43(1) that excludes from the actual cost for depreciation any expenditure on acquisition of an asset where payments to a person in a day exceed a specified cash threshold unless made by account-payee cheque, account-payee bank draft or electronic clearing system through a bank account, thereby conditioning depreciation eligibility on permitted modes of payment.
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