If company purchase a car in the name of director. can company claim the depreciation as per income tax act, 1961, if company maintain proper minutes of board meetings, rights of the director, etc.
As per my opinion it is allowed, if company maintains proper above records.
I need a confirmation from you.
it is necessary to do so because if one buys in the name of company one has to pay rto tax 3 times the normal tax.
CAclubindia
