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Purchased of a motor car

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(Querist)
13 July 2021 In a Private limited company there are two directors. Understanding between these two directors is any amount withdrawn from the company will be divided between this two.
Query:
One director wants to buy a car for personal use but he his buying the car from company name so that company will get the tax benefit ( depreciation & Interest on loan)
Total cost of car with registration is 46,00,000/-
Interest on car loan is 5,00,000/-
Total Cost is 51,00,000/-

Mode of payment is Rs. 15,00,000 down payment
Buy of personal car is Rs. 3,00,000/-
balance of Rs.loan amount 33,00,000/-

Query 1 how much amount will the other partner withdraw from company.

query 2 The total outflow is Rs. 48,00,000/- is that amount will be withdraw by other partner or the Total cost - tax benefits which the company will get that amount (example total cost is 50 - tax benefits 10 = Rs.40 )
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 July 2021 Rs 48,00,000 minus tax benefit amount should be considered for withdrawal.
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Kunal

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Kunal (Querist)
13 July 2021 tax benefit will be taken care by both at the end .. why would the other director draw minus tax benefits ..
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 July 2021 Company is gaining tax amount (consider it as receipt) so for net drawal tax has to be reduced.
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