if the car purchase by one of the partner on his own name and car loan too.
now this car should be taken into partnership firm account or not ?
and loan interest will be allowed in the firm.
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Fixed Assets in Partnership
Replies (4)
yes you can show it by way of capital introduction by partner in the business of the firm. emi to be borne by partner firm
thank you sir
| Originally posted by : Giridhar S Karandikar | ||
 |
yes you can show it by way of capital introduction by partner in the business of the firm. emi to be borne by partner firm |  |
Sir.,
Please explain how is it possible?
Sir,
but emi debited from partner's saving a/c, eventhough we can claim car loan interest exp. in the firm....?
but emi debited from partner's saving a/c, eventhough we can claim car loan interest exp. in the firm....?
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