This discussion addresses whether a proprietorship firm can claim Input Tax Credit (ITC) and depreciation on a laptop purchased online using a son's credit card. The consensus is that ITC can be claimed by showing the amount paid by the son as creditors. Various payment options, including bank transfer to the son's account or direct payment, are also discussed.
17 May 2022
I am purchasing lap top online in my proprietorship firm and payment is made by my son's credit card. Will i be able to claim ITC AND DEPRECIATION? PLEASE CLARIFY?