Z an assessee incurs expenditure for acquisition of an asset in respect of which payment (or aggregate of payment made to a person in a day), otherwise than by an account payee cheque/draft or use of ECS through a bank, exceeds, such payment shall not be eligible for claiming the amount of depreciation on such asset.

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Question:Z an assessee incurs expenditure for acquisition of an asset in respect of which payment (or aggregate of payment made to a person in a day), otherwise than by an account payee cheque/draft or use of ECS through a bank, exceeds, such payment shall not be eligible for claiming the amount of depreciation on such asset.

1. ₹ 50,000

2. ₹ 20,000

3. ₹ 10,000

4.₹ 2,00,000

Posted by R4R Team
  1. Z an assessee incurs expenditure for acquisition of an asset in respect of which payment (or aggregate of payment made to a person in a day), otherwise than by an account payee cheque/draft or use of ECS through a bank, exceeds, such payment shall not be eligible for claiming the amount of depreciation on such asset.
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