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purchase of car

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(Querist)
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
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
20 August 2010 yes you can pay from firm and claim depreciation there.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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).
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