There is a car being purchased in the name of director and for the use of director, but the expenses will be paid by the Company.
Can someone please advice whether the same can be enforceable as per Law?
If yes, can you give me a copy of resolution?
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Purchase of car
Replies (3)
If the car is wholly & exclusively use by the director of the company then you may show your expenses against these car such as fuel, maintenance, repairing cost etc. is is allowable expenses in hand of the company & it is included as perqusite of directors salary for which he pay tax. you may passed a specific resolution on Board in this regard.
If the car is wholly & exclusively use by the director of the company then you may show your expenses against these car such as fuel, maintenance, repairing cost etc. is is allowable expenses in hand of the company & it is included as perqusite of directors salary for which he pay tax. you may passed a specific resolution on Board in this regard.
can some provide with a company of resolution please?
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