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Purchase of car by director
car purchase by director on his own name i.e. registered on director name but installment pay by company bank account
Replies (6)
Transfer to his capital Account...
please reply as per company act 2013 & as per Income tax Income from other sources
Payment so made by the company will be adjusted against director salary.
Company Act do not allow use of company fund for personal purpose of Director of the such company. Therefore, best course of action is to adjust such payment from Director salary.
Company Act do not allow use of company fund for personal purpose of Director of the such company. Therefore, best course of action is to adjust such payment from Director salary.
Company Fund and Capital (capital & Current) is different...
thanks Rishi Ji also my ans is same
We will consider the Purchase of Car in director's current A/c / Loan (From Directors)...
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