Car purchased in the name of directors shown in co.s books?
This query is : Resolved
05 March 2013
If the financial position of the Co. is not good, can director purchase Car in its own name and show the car loan and car in the books of Co.? I heard there was notification regarding same.
05 March 2013
Please specify are u asking this question from company law point of view or income tax point of view?
05 March 2013
Actually, i wanted to know whether can we do such transaction? If thr is any legal compliances then let me know.
16 August 2023
No, not allowable.
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