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Mobile phones

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(Querist)
01 February 2010 If director purchase a mobile phone and paid the amount from company can we treat that mobile is company asset?

and same case in employee
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CA. Varun Goel

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CA. Varun Goel (Expert)
01 February 2010 For the eligibility of becoming company's asset,it should be in the name of the company.
If director's mobile is in the name of the company then only it can become the company asset. There is no impact who will pay the bill.

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