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Expenditure on Vehicles in the mane of Director

This query is : Resolved 
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(Querist)
25 December 2009 Dear All,

Good Day,

We are running a Maruti Van for pick up drop up of Company's staff regarding this running & maintenance charges are claiming the Companies Books of Accounts.

However Maruti Van is in the name of one Directror of the Company.

Whether it is allowed to claime the expendirue or not as per Income Tax.

Please advise.

B'regards
Saran
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Jitender

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Jitender (Expert)
25 December 2009 yes, the exp is allowable becz the same is being used for business as per sec37.
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
25 December 2009 allowable
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