Car purchased by partner and cost expensed by company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 January 2018
Hi team,
Car purchased by individual partner and all cost of car like emi paid by company .
Who is the owner in this case company or individual partner .
What is the consequences in terms of tax
Br
Manish
Car purchased by individual partner and all cost of car like emi paid by company .
Who is the owner in this case company or individual partner .
What is the consequences in terms of tax
Br
Manish
11 January 2018
Partner is the Owner of the Car... No more tax liabilities to Company and It's fully to Individual...
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 January 2018
Thank you for your reply.
Could i know why this is so cause company is paying and these expenses does not impact the pl and balance sheet of com0any as emi are paying from companies bank account
Thanks in advance
Br
Manish chaubey
Could i know why this is so cause company is paying and these expenses does not impact the pl and balance sheet of com0any as emi are paying from companies bank account
Thanks in advance
Br
Manish chaubey
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