Vehicle depreciation

the director hav 2 trf the car in the name of the company nd den dep can b claimed til tat time co. can credit the director a/c nd wen the loan is repaid co can pay the amt to the director....
 

Thanks for your reply!!

So now it comes down to what constitutes a transfer? Physical control and agreement or the registration sertificate is a must?

thanks

Sir in income tax the legal title is not important . important is that who is paying  for the vehicle .Company can claim depreciation.

Comany can claim the depreciation if the company has paid consideration towards the acquisition cost of the vehicle even if it is not registered in the name of the company. That means if Company has passed the resolution in board meeting to purchase the car in the name of Director and make the payment then it can legally claim the depreciation.

Thank you all for your inputs!!!