IS IT RENT?

1. yes,you can get into an agreement with the co. and duly claim rent expense in the books of co. and should show rent income in your personal books

2. If you get into the agreement, then definitely yes say example, petrol exps, repairs exps, insurance, etc.

3.  i don't know

4. yes

Originally posted by : I LOVE MY CA COURSE
	1. yes,you can get into an agreement with the co. and duly claim rent expense in the books of co. and should show rent income in your personal books 2. If you get into the agreement, then definitely yes say example, petrol exps, repairs exps, insurance, etc.   3.  i don't know 4. yes

WHAT IF I DONT SHOW A RENT

1)CAN I CLAIM EXPENSE IF I USE IT FOR OFFICIAL PURPOSE

2)CAN I CLAIM VAT

3)WHAT IS PROCEDURE FOR RENT SHOWING

1. first of all only when you use the car for official purpose you can show rent expense in the books of the Company. Otherwise , you CANNOT.

2. yes

how can i transfre my vehicle to company use?/

if the vehicle is in the personal name, you have to make an agreement for effecting an lease contract.

thereby giving the ownership rights to the company.