Accounting & Tax Treatment

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MAKARAND DAMLE (Querist)
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26 June 2009 Director of the Company has taken Car in his name on Hire Purchase. The down payment to the car dealer was made by the Director from his personal account. However, the instalment towards repayment of Finance taken from institution is repaid from The Copmpany's Current Account.

My query is how to account this transactions in final accounts so that there are no problems from Tax angle ??

MAKARAND DAMLE

MAKARAND DAMLE (Querist)
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05 July 2009 Can anybody help me with this query ?

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