Sale of used car by proprietor

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Billing work
49 Points Posted on 01 October 2025

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 ....?

 

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On 01 October 2025 at 12:08 Report
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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.

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Profession
28261 Points Posted on 03 October 2025

Depreciation claim and can sell, but no profit.

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On 03 October 2025 at 07:12
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Billing work
49 Points Posted on 05 October 2025

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

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On 05 October 2025 at 15:36

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