Depreciation on luxury cars by company
This query is : Resolved
VICKY TEJRAM NARAD
(Querist)
29 March 2018
Dear Expert,
I would like to know that if the director of company want to buy BMW cars and want to take benefit of Depreciation in income tax of company accounts ant GST benefit. Can director do it? . Please advise and suggest me how can i take both the benefits in company income tax.
Thanks
I would like to know that if the director of company want to buy BMW cars and want to take benefit of Depreciation in income tax of company accounts ant GST benefit. Can director do it? . Please advise and suggest me how can i take both the benefits in company income tax.
Thanks
CA R SEETHARAMAN
(Expert)
29 March 2018
Yes director can do it. Depreciation benefit is available but ITC on GST paid can't be claimed.
VICKY TEJRAM NARAD
(Querist)
29 March 2018
Thanks ,Please give me notification link to see my director
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