Sale of used car by proprietor

1049 views 2 replies

Dear sir /  madam 

My questoin is ...

If a proprietor buy car on firm name and taken depreciation on the car, after use of few years he sold this car to one person .. what are the compliances we need to do ....?

 

Replies (2)
Quick Summary
This discussion addresses the compliance requirements when a proprietor sells a car that was purchased and depreciated under the firm's name. Key questions revolve around the implications for depreciation claims, whether a tax invoice is necessary, and the procedures to follow when no profit is made on the sale.

Depreciation claim and can sell, but no profit.

Okay....do we need to issue tax invoice ?

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
Featured 18 July 2026
CA Articleship

apricus india

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
CA Article Trainee

Rahul Dang & Associates

Pune

CA Inter

View Details
Company
ARTICLESHIP 11 July 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details