Menu
Capital asset input tax
we have bought one car, specifically for business purpose in the name of proprietor, and shown in balancesheet as capital asset. now my query is that can we claim the input tax of the bought car full in the same month or it is to be spread to the 5 years.
Replies (2)
Thanks for the information vishesh sir
For claiming input tax credit, one must occupy a tax invoice or a debit note ... the same are deployed for rent as per the Section 17(5)(d) of CGST Act, 2017.
Recent Topic
- Section 192 2(b) entry in IT return ITR 1
- Rent from redevelopment property
- How to find FMV of inherited gold after selling it
- Happy CA Day!!
- Share your proudest CA moment 🏆
- Gift recd from brother
- How to show Loan write off in DPT 3?
- Form 10E and Salary arrear
- LTCG U/S 54F. Sale of property plus sale of share
- Issue with ITR2 online utility for HUF
Related Topics
CAclubindia
