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Fixed assets

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(Querist)
12 October 2011
Sir i a private limited company a director can buy vehicle on his name and pay the loan from company account and also he can books assets in company account.sir pleas help in regard and solve my problem pleas.
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CA Navin Jain

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CA Navin Jain (Expert)
12 October 2011 If VEHICLE IN THE NAME OF DIRECTOR THEN COMPANY NEITHER PAY THE LOAN AMOUNT NOR CONSIDER AS FIXED ASSETS.

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