Car for business

This query is : Resolved

hardik shah (Querist)
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21 October 2013 we are a private company...?

if we want to purchase a car for business purpose on the name of the directors..we can do so..?

what to do of this car if the director on whose name car is taken has resigned from the directorship ?

Ganeshbabu K

Ganeshbabu K (Expert)
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21 October 2013 depreciation car will not be allowed under income tax if car is not in the name of company
.
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so it is recommended to purchase car in the name of company, after some time with mutual discussion if any want to purchase car for person they can do ,,but it is recommended to purchase car with company name only

hardik shah

hardik shah (Querist)
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22 October 2013 thank you ..sir ...you are helping us a lot....

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