Car puchased for Guest pick-up
This query is : Resolved
Bijay Singh Negi
(Querist)
15 September 2010
we have purchased honda city car for pick-up of guest for company pls advise as per income tax act whether is should be consider under commercial vehicle or not , pls explain the reason with section under the income tax act.
Aditya Maheshwari
(Expert)
15 September 2010
YOu business is not of giving car on hire but just helping your clients to travel. So it cannot be considered as commercial vehicle. No income as such of hire charges is being generated. It is only a servce being provided.
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