I am From Gujrat India ! I have Partnership Firm with My wife ! I want Buy Car From Partnership Firm ! Can I get Loan From It ! If I buy Car For Partnership Firm There Any Problem ? If I can what Is Process In Tax About it ?
You can take money as withdrawal from Partnership firm for the Personal purpose.. As a option mentioned will not affect Income Tax to Partnership Firm..! It ll affect your Personal.
Or else you can Buy car for the Purpose of Business..Like you daily going for Business on this car is one of the Example of Useing for the business Purpose..!
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