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Capitalisation of Motor Vehicle

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 October 2010 We are pvt ltd company.
We have bought TATA ACE for transporation of our material.

We have purchased vehicle in the name of our managing director.

Can we capitalise it in our company book? what procedure we have to follow?

Kindly guide me.

Thanks in advance.
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CA Navin Jain

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CA Navin Jain (Expert)
01 October 2010 u can not capitalized
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Hemu Kapoor

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Hemu Kapoor (Expert)
01 October 2010 In my opinion it can be done by reissue of the same invoice after cancellation of the previous one ... if possible.

Correct me if I am wrong..

Regards.
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
01 October 2010 company name is not on invoice so you can not capitalize in company.company is a artificial person not ralated to director.
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