CCI Online Learning
What do you want to learn today?

Freedom sale - Get upto 30% discount in all CA CS CMA and Certification courses. Call Coaching: 1800-3000-0505 Certification course : 011-411-70713


Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Accounts treatment

This query is : Resolved 

We,Private Ltd , are providing transport services - No vehicles are in the name of company but only the directors of the company have the vehicles.
Whether the income and expenses of vehicles should be accounted in the books of Company or in the books of individual (i.e) directors?

In case the accounts to be made in the books of individual (directors), Should the directors be treated as sub- contractor to the business?

thanks in adv

It depends on the MOU or Agreement signed for facilitating the use of Vehicles by the business. All these needs to be reported in RELATED PARTY TRANSACTION

You need to be the querist or approved CAclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Trending Tags
GST Live Class    |    x