11 October 2018
I have a proprietorship firm for clothing, I am planning to buy a car, should i buy it under my own name or should I buy it under the firm name? If i buy it on personal name or firm name can I pay laons from any or the bank accounts (personal/current acc)?
12 October 2018
Buy it on personal name. Prop firm is not a legal entity no assets can be purchased in firm name. Payment can be made from any bank account no problems.
CAclubindia
