Mr. Ashok Gupta is a Karta of a HUF Firm, ABC Trading Co.
He purchased a vehicle in his name but the payment was done through the bank of the firm
Can it be shown as Fixed Assets of the firm?
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Fixed assets
Replies (4)
YES MR. ASHOK SHOWN vehicle IN FIXED ASSETS.IF FIRM IS PROPRITORSHIP
yes u can show
Obvious it will be shown.
Yes, because he is represenring that particular enterprise/ HUF.
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