Depreciation on car
This query is : Resolved
04 May 2012
Dear sir,
Can company claim the depreciation on car which is on the name of director of company.
Is their any judgement about this matter?
or is their any provision related to this matter?
please guide me.
Can company claim the depreciation on car which is on the name of director of company.
Is their any judgement about this matter?
or is their any provision related to this matter?
please guide me.
04 May 2012
A properly drafted resolution empowering the company to buy the vehicle in the individual name will serve the purpose. ( The other side is DARK. You have to take a call. Savings in RTO taxes at the cost of Income Tax disallowance on account of personal use by director, you have a good case in appeal.. kind of argument by ITO, cost of appeal, 271(1)(c) etc.)
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
- Refund Annexure-B
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Liable to deduct tds and 44ADA
- GST Reverse
- Clarification regarding Import E-way bill transaction type // Regular or Bill from Dispatch From
- Sale of Equity shares for Purchase of Residential Property
- Payment to foreign customer
- Two seprate Invoice needed
- Non issue of e way bill
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Refund of 20%pre-deposit paid for stay application
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
