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Depriciation

This query is : Resolved 
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Querist : Anonymous

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Querist : Anonymous (Querist)
19 July 2013 A PVT LTD COMPANY PURCHASE A VEHICLE IN THE NAME OF ITS DIRECTOR BUT TOTALLY FOR BUSINESS USE AND DIRECTOR IS A SHARE HOLDER ALSO.

CAN COMPANY CLAIM DEPRECIATION ON THIS VEHICLE.

PLS REPLY AT THE EARLIEST
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
19 July 2013 No. since the company not owning the rights on the vehicle, depreciation cannot claim on that
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