Director car as asset in company's block
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 November 2016
Hello All
Director's car is being used for the purpose of business. Pls clarify weather company can add this car in its block to charge the depreciation as per income tax as well as per companies act. 2013,
Regards
Atul jeswani
Director's car is being used for the purpose of business. Pls clarify weather company can add this car in its block to charge the depreciation as per income tax as well as per companies act. 2013,
Regards
Atul jeswani
18 November 2016
No, as per me if the car is not in the name of the Company then the company can't claim depreciation on the asset.
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