banner_ad

Company car transferred to owner's name

AS 281 views 2 replies

our company has a car in company name and has been used for past two years and depreciation is applied in the books. Now the company owner wants to change the car to his name but still use it for business purpose. what entries should be posted. 

Replies (2)
drawings because their is no such rule that owner use the assets in own name and show pass the regular business entry accounting is same for all business. rather then decision. it will affect the unexplained query rasied by IT Department for such allowance if you peraue with owner decisions.
https://www.pwc.in/services/tax/news_alert/2013/pwc_news_alert_3_july_2013_swagat_infrastructure_ltd..pdf


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details