Interest on car loan
This query is : Resolved
30 July 2011
Director of pvt.ltd co. taken loan in his personal name.car is not shown in comapny's b/s.can company claim interest as business expenditure as director use the same for company purpose.
is necessary the loan shall be on name of company.
URGENT
is necessary the loan shall be on name of company.
URGENT
30 July 2011
No. it is not business expenditure, Loan & Car should be in the name of the company
01 August 2011
if in this case ,company reimbused interest on car loan taken by director and claim the same as business exp. then it is allow or not ? car is being used by director for office purpose.?
agreement btw director and co. shown reimbursement personal exp. of director shold be born by co.?
agreement btw director and co. shown reimbursement personal exp. of director shold be born by co.?
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