Depreciaiton issue
This query is : Resolved
10 May 2018
Director has purchased a motor car in his own name and therefore the motor car company has drawn the bill on the name of the director but the director has paid the bill through the bank account of the company. Now in such circumstances whether the company can claim the depreciation on such motor car in her profit & loss account.
11 May 2018
The depreciation can be claimed by the company. Pl go through the link
https://abcaus.in/incometax/depreciation-allowability-for-cars-vehicles-purchased-in-the-names-of-directors.html
https://abcaus.in/incometax/depreciation-allowability-for-cars-vehicles-purchased-in-the-names-of-directors.html
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Taxability of credit in canara bank ET & T section (NRO)
- Difff in ais receipts and gst turnover
- Banking Related Issue
- TDS on rent received on hardship compensation being rent on redevelopment of building
- NRI INSURANCE ADVISOR
- Traces submitting correction statement error
- Loss of interest in PF transfer from EPFO to Trust
- CLOSING STOCK QUERY
- F&O reporting in ITR
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
