purchase of car
This query is : Resolved
20 August 2010
iam a partner in firm , want to purchase a car for personal use , want to make payment form firm, can in subsequent year put car in firm * claim dep .
any tax benefit if car purchase in individual as compare to firm
any tax benefit if car purchase in individual as compare to firm
20 August 2010
yes you can pay from firm and claim depreciation there.
20 August 2010
Vehicles registered in the name of one of the partners. Firm was entitled to depreciation on vehicle.
citation : - CIR Vs. Mohd Bux Shokat Ali (2002) 256 ITR 357 (Raj).
citation : - CIR Vs. Mohd Bux Shokat Ali (2002) 256 ITR 357 (Raj).
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