Car insurance

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 September 2013 Partner having personal car used for business, wheter Interest on Car Loan and Depreciation on Car and car insurance is deductable from the income of partner, such as salary and interest
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
27 September 2013 If it is used for business then allowed to firm only.
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Querist : Anonymous

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Querist : Anonymous (Querist)
27 September 2013 Can it be deducted in the hands of individual partners income?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
27 September 2013 on what bais can u claim when officially business firm is using it so technically its firm eligble and not the partner himself.
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