close Change the way you learn with CCI Online Coaching   view more

Please Wait ..

Sign-in to your account


Username:
Password:

Remember Me

Forgot your password?

Sign-up now



Join CAclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.


Discussion > Corporate Law > Pvt ltd >

Purchase of car

    Post New Topic
Pages : 1





CS, Mcom, SY.LLB

[ Scorecard : 802]
Posted On 19 April 2012 at 12:32 Report Abuse

There is a car being purchased in the name of director and for the use of director, but the expenses will be paid by the Company.

Can someone please advice whether the same can be enforceable as per Law?

If yes, can you give me a copy of resolution?

 



DIBYENDU
SERVICE

[ Scorecard : 159]
Posted On 19 April 2012 at 12:55

If the car is wholly & exclusively use by the director of the company then you may show your expenses against these car such as fuel, maintenance, repairing cost etc. is is allowable expenses in hand of the company & it is included as  perqusite of directors salary for which he pay tax. you may passed a specific resolution on Board in this regard.




DIBYENDU
SERVICE

[ Scorecard : 159]
Posted On 19 April 2012 at 13:04

If the car is wholly & exclusively use by the director of the company then you may show your expenses against these car such as fuel, maintenance, repairing cost etc. is is allowable expenses in hand of the company & it is included as  perqusite of directors salary for which he pay tax. you may passed a specific resolution on Board in this regard.



Mohammed
CS, Mcom, SY.LLB

[ Scorecard : 802]
Posted On 19 April 2012 at 14:04

can some provide with a company of resolution please?


There are 3 Replies to this message






Related Files








Related Threads


Post your reply for Purchase of car



Your are not logged in . Please login to post replies

Click here to login


Not a member yet ?? Click here to signup

Message







    

  • Use thank button to convey your appreciation.
  • Maintain professionalism while posting and replying to topics.
  • Try to add value with your each post.