Is depreciation allowable on purchase of fixed assets by cash, Which used for bussiness purpose?

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 Yes!, depreciation is allowable on purchase of asset for business purpose by cash, subject to certain conditions. The asset must be used for the business or profession of the assessee, and it must be owned, wholly or partly, by the assessee. The asset must also have a useful life of more than one year. However, there is a restriction on claiming depreciation on assets purchased in cash. Section 43 of the Income Tax Act, 1961, disallows the capital expenditure incurred in cash for certain specified assets, including fixed assets. This means that if you purchase an asset for your business in cash, you will not be able to claim depreciation on the cost of the asset. There are a few exceptions to this rule. For example, you will still be able to claim depreciation on assets purchased in cash if the amount of the expenditure does not exceed Rs. 20,000. You will also be able to claim depreciation on assets purchased in cash if the asset is used for scientific research or for the purpos...
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A coin of Rs. 100 was released by Honourable Narendra Modi on the birth anniversary of Rajmata Vijaya Raje Scindiaji.

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 Prime Minister Narendra Modi tomorrow released a commemorative 100 rupee coin in the honour of Vijaya Raje Scindia.

A coin of Rs. 100 was released by Honourable Narendra Modi on the birth anniversary of Rajmata Vijaya Raje Scindiaji. She was born on 12th October,1919. 
Vijaya Raje Scindia, born Lekha Divyeshwari Devi and known popularly as the Rajmata of Gwalior, was a prominent Indian political personality. In the days of the British Raj, as consort of the last ruling Maharaja of Gwalior, Jivajirao Scindia, she ranked among the highest royal figures of the land. A coins looks like below 👇

Vijaya Raje Scindia was "a witness to India's key political events from independence struggle to decades after the country's independence", PM Modi said. Also tweet by Narendra Modi on his Official twitter handle as below:
Enumerating a series of progressive reforms and developments in the country, Mr. Modi said, Rajmata Scindia would have been happy to see these positive changes.

The programme was attended by Union Culture Minister Prahlad Singh Patel and close relatives of Rajmata Scindia's family.



















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