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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NTSE Application Form 2020-2021 Released by Gujarat and Some Other States

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 NTSE Application Form 2020-2021 Released


National Council of Educational Research & Training (NCERT)  has released the notification for the NTSE 2021 on the official website. All States and UTs have started to release the NTSE application form 2021 from October 1, 2020, on the official website of the SCERT. Telangana, Kerala, Odisha, Jharkhand, Uttarakhand, Goa, Meghalaya, Maharashtra, Andhra Pradesh, Punjab, Chhattisgarh, Gujarat have released the NTSE application form 2021 online. Here, I discussed in detail about what is NTSE , eligibility criteria, And How to apply?

# What is NTSE ?

National Talent Search Examination (NTSE) is a national-level scholarship program in India to identify talented students and nurture their talents.


# Which body is conducted NTSE ?

The exam is conducted by the National Council of Education Research and Training (NCERT).



# Eligibility criteria to appear in NTSE 2020 for Stage - 1 ?

• Those candidates willing to apply the NTSE exam must be regular students of class 10 with minimum 60 percent marks in previous class

• The school should be affiliated from a recognized board

• For the reserved category like SC / ST / Physically challenged group candidates, their is a marks relaxation of 5%.

• Open and Distance Learning (ODL) students are also eligible to appear in the NTSE stage 1. They must not be employed anywhere. They must be appearing in 10th exam for the first time. 

However, for more details kindly reads Official Notification.


# Eligibility criteria to appear in NTSE 2020 for Stage - 2 ?

• Candidates, who score more than 80% in the state-level examination and fall within the top ranks of the state (as specified in state quotas) can appear for the national-level examination conducted by NCERT. The details of the state quota will be made available on the official website of the NCERT.

# What is advantages of  being NTSE scholars ?

 • Candidates will be get Rs. 1250 per months scholarship during steady in Std. 11 and Std. 12.

• Candidates wii be get Rs. 2000 per months scholarship during Pursuing graduate and undergraduate courses.

• Candidates will be get scholarship during Ph.D. and U.G.C. couses as per regulation made by the board.

• However, It is relevant as it actually tests what is being taught in the schools.

• It provides a benchmark for students from all over India to help them to know where they stand.

• The results of the exam are accessorized with detailed analysis and feedback that helps point out areas of strengths and weaknesses.

#  NTSE reservation criteria 2021 :


Category                                Reservation    

Scheduled Caste                              15%        Scheduled Tribes                            7.5%

Physically Handicapped                4%

Other Backward Class                    27%

EWS                                                    10%

UPDATE FOR GUJARAT STATE :

Here, I discussed for Gujarat State and for other state kindly visit your state respective official websites. For more details about Application fees and Last date of Application, Exam Date see Official Notification.


In Gujarat state Government has been issued wide notification for NTSE Exam application form related .

✓  Online Application Start Date : 17/10/2020

✓ Last Date of Online Application : 03/11/2020

✓ Period for Payment in Post Office : 17/10/2020 to 03/11/2020 (For Online Payment till 05/11/2020)

✓ Last date to submit application form to DEO office , Form which is filled by School  : 09/11/2020

✓ Exam Date : 13/12/2020


# Exam Fees :

✓ Rs.70 for Students belonging to General categories.

✓ Rs. 50 for Students belonging to PH, OBC, SC, ST categories.

✓ Required to pay services charge seperately on above mentioned fees.

✓ In any cases fees not-eligible for reimbursable (Redeemable) .

You can see by clicking on below mentioned link ,and then click on Notification tab.

For Official Notifications  URL : http://www.sebexam.org/  ( Click Here )


# How to apply Online for NTSE 2020?

User manual for how fill application form is below: Kindly before applying must keep U-Dise Number. 


STEP 1 :  www.sebexam.org, Click Here To apply for Scholarship Examination, kindly click on Apply online from the home page.


STEP 2 : On Apply online page, kindly go through “How to Apply” manual to 

understand the procedure of applying for the scholarship examination. 

Click on “Apply” Button in line with NTSE Exam to proceed. 

You may also read the Notification for the NTSE Examination.


STEP 3 : Kindly go through the dates and important details, enter your U-Dise number and clock on submit button to apply.



STEP 4 : After submit, a pre-filled form will be shown, kindly confirm your personal details and School details. If in case of change in School, enter new School Dise code, click on “Change School” button, your school details will be updated for this examination. Enter mobile number of Parents and Principal/Teacher mobile no. Kindly click on Submit to submit your form.

STEP 5 : After Submit kindly note your Application number which will be used for further process.

STEP 6 : After submitting form, click on “Upload Photograph”, enter application 
number and date of birth to proceed.
STEP 7 : Select both photo and signature and then click on upload button to 
upload photo and signature.
STEP 8 : Next, click on “Confirm Application”, enter application number and date of birth to proceed.

STEP 9 : Confirm your details and then click on confirm button to confirm 
your application, after confirming you will not be able to edit the 
application.


STEP 10 : After Confirming form, click on “Print Application/Challan”, enter 
confirmation number and date of birth to proceed. You may select to 
print your confirmed application, post office challan, Pay online fees 
and print receipt (if fee is paid online).

STEP 11 : Online payment page – enter your details of credit card/debit 
card/netbanking and proceed to complete transaction. No 
employee would ask you bank/card/otp details from our team.


STEP 12 : Post Office sample challan copy.





















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