How to find the following proportion
This query is : Resolved
15 October 2013
Dear Sir/Madam,
In Profit & Gains from B/P, if the asset is used proportionately between business and personal use, how to find the proportion of use in practical life?
In Profit & Gains from B/P, if the asset is used proportionately between business and personal use, how to find the proportion of use in practical life?
15 October 2013
Hi
You have to make assumption its usage basis.
Thanks//VaibhavJ
You have to make assumption its usage basis.
Thanks//VaibhavJ
15 October 2013
Hi Vaibhav sir,
Thanks for the reply. Suppose a car is used for both personal & business purpose simultaneously, how to determine its usage practically?
Thanks for the reply. Suppose a car is used for both personal & business purpose simultaneously, how to determine its usage practically?
16 October 2013
Hi
You have to maintain log book to monitor no of Km. car used for personal & official use.
Thanks//VaibhavJ
You have to maintain log book to monitor no of Km. car used for personal & official use.
Thanks//VaibhavJ
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Reporting of STCG on Property in ITR
- Form 10BD Filling
- Not able to file ITR
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
