07 January 2009
ACTUALLY IF THE PROP. PURCHASE A LAPTOP FOR HIS BROTHER AND HE HAS PAID HIS BILL BY HIS CREDIT CARD AND THE BILL ALSO MADE WITH HIS BROTHER NAME BUT IN BILL AFTER HIS BROTHER NAME C/O FIRM NAME HAS MENTIONED. SO THEN IN THAT CASE CAN WE CLAIM IT IN OUR EXP.
08 January 2009
If it is used for the personal purpose of the brother then the proprietor cannot claim it as an asset and consequently he will loose the depreciation.
CAclubindia
