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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Highlights of Apple Event 2020 and Specifications : Home Pod Mini launched at $99, iPhone 12 starting $699, iPhone 12 Pro from $999

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 The iPhone 12 and iPhone 12 Mini expected will be shipping starting 13 November. The pre-order for the phones will open on 6 November.

Apple opened its iPhone announcements for 2020 with the iPhone 12 and iPhone 12 mini, bringing the more affordable line some of the premium features usually reserved for the Pro line.

Specifications of iphone 12 and iPhone 12 mini :

The iPhone 12 replaces its predecessor's IPS LCD with a Super XDR OLED display of the same 6.1-inch diagonal and a much higher 2532x1170px resolution (460 pixels per inch). Apple advertises 1200 nits of peak brightness, matching the Pro models.

Screen has a standard refresh rate of 60Hz and the same old notch.5G was a huge part of Apple's presentation. The iPhone 12 supports mmWave in the US as well as the more widely spread (but slower) sub-6GHz 5G. Apple has tested speeds across 100 carriers and says it can achieve 3.5Gbps in controlled environments and up to 4Gbps in ideal conditions.iPhone 12 features a 6.1-inch Super Retina XDR display and a Ceramic Shield glass technology to make it more durable. It comes with an IP68 rating for water resistance up to 6 meters for up to 30 minutes. iPhone 12 comes with iOS 14 out of the box and is powered by an A14 Bionic chipset.


Like its predecessor, the iPhone 12 comes in a myriad of colors - Green, Product Red, White, Black and a new Blue. The phone's sides are matte, while its back is glossy, the opposite of the iPhone 12 Pro models.

iPhone 12 Pro:

iPhone pro prices starting $999, iPhone 12 Pro Max priced from $1099 The iPhone 12 Pro and iPhone 12 Pro Max will be available for pre-order starting 16 October and it will start shipping in the US by 23 October.

Some major features of iphone 12 Pro you can see below images:
The iPhone 12 Pro models will feature LiDar scanning This will allow these phones to deliver AR capabilities, can also be used for auto-focus in low light.Apple has announced 10-bit HDR recording is coming to the new iPhones The phones will also allow Dolby vision HDR recording and the iPhone 12 Pro will also let you edit these Dolby Vision videos on the device.  Later this year, Apple will also launch AppleProRAW, puts multiframe smartHDR into a RAW format.
The iPhone 12 Pro has a triple camera setup It features a 12 MP ultrawide lens with 1.6 aperture wide-angle. It also sports a 52mm equivalent telephoto camera. Apple has also announced that Deep Fusion is coming to all cameras on the Pro. The iPhone 12 Pro also supports 4X optical zoom.















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