If Motor Car is in the name of company Director and the said company pays fuel charges, servicing charges, garage rent etc. for that car, can these expenses be booked by the company under Motor Car Upkeep?
Kallol Sarkar (Accountant) (188 Points)
24 September 2021If Motor Car is in the name of company Director and the said company pays fuel charges, servicing charges, garage rent etc. for that car, can these expenses be booked by the company under Motor Car Upkeep?
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3293 Points)
Replied 24 September 2021
YES. If the car is used for official purpose, then all expenses can be accounted in the company books.
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