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Director car as asset in company's block

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Querist : Anonymous

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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,

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Atul jeswani
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Sandeep Dharar

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Sandeep Dharar (Expert)
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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