Purchase of lap top for business use but payment from credit card of my son


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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?

17 May 2022 Pl clarify? What will be the impact on availing ITC?

17 May 2022 Yes you can claim ITC, show the amount paid for laptop by your son as creditors

17 May 2022 Can i pay the amount by bank transfer to my sons ac and show the amount as paid for laptop payment

17 May 2022 Can I pay the amount in cash of Rs60000/?

17 May 2022 Please give me the payment options also?

22 May 2022 You can pay by bank transfer

22 May 2022 Shall I pay by bank transfer to my son and show that payment made fot laptop A/C.pl send entry and narration in details.


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