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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NEET 2020 Results Declared Today, AIR 1 Odisha student, Shoyeb Aftab, makes history with perfect score of 720/720

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 NEET 2020 Results Declared Today, AIR 1 Odisha student, Shoyeb Aftab, makes history with perfect score of 720/720 

NEET UG 2020 result has been declared by the National Testing Agency on Friday. The score cards are available on the official website of the exam - ntaneet.nic.in. Candidates can download their score card and check merit list through the official website. 

Soyeb Aftab from Odisha has topped NEET 2020 examination with 720/ 720 marks and securing All India Rank 1. Soyeb shared his journey, experience and motivations as he creates history. Shoyeb, the 18 year- old from Rourkela, has landed an All India Rank 1 in NEET 2020. 


Akansha Singh from Kushinagar has also scored the same marks and has secured AIR 2 rank. She is the female topper across the country. 

As many as 15.97 lakh candidates registered for NEET UG 2020 of which 85-90 percent appeared in Phase 1 that was conducted on 13 September.

The Phase 2 exam was conducted on 14 October after the Supreme Court of India gave its approval to hold the exam for candidates who missed medical entrance test due to COVID-19 or were stuck in containment zones. As many as 13,67,032 students appeared in the phase 1 exam, while phase 2 saw 290 students taking the entrance test. Students who have qualified the exam will now be called for NEET 2020 counselling.

Honourable Minister of Human Resource Development Dr. Ramesh Pokhriyal Nishank has been given greetings to all candidates who participated in NEET Exam 2020 by his official Twitter handle:

You can see press release also:

NEET 2020 Results were expected to be released at around 4 pm, but the official website crashed due to massive load of students eagerly wanting to check their results. Candidates can now check their All India ranks for 15% AIQ and the AIR for state counselling in their NEET 2020 result.After facing a technical glitch, NTA has finally DECLARED NEET 2020 result at ntaneet.nic.in and the NEE result link is now active. You can check your score and download direct NEET result by clicking on following link :

URL : http://ntaresults.nic.in/NEET20/Result/ResultNEET.htm (Click Here) 

# How to check NEET results 2020 at ntaresults.nic.in ?

1) Visit the official website ntaresults.nic.in (Click Here)

2) Click on the link that reads, “Score Card NEET(UG) 2020”

3) Enter details as required and submit/login

4) Results will be displayed on the screen

5) Download it, and take a print out of the same.



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