if a company buy a car but due to bank issue car is purchased in the name of a director but car is used only for company.
in this situation who charged the depreciation?
Depreciation is allowable only to the owner of the asset. In case of co-ownership, depreciation is allowable in ratio of their ownership. This means, tax depreciation can be claimed by your owner if he purchased it from his account. No transfer the company money to his account and the company is entitled for depreciation.
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