22 December 2012
Hey GUYS Need your Help........ A company is getting 450000/-p.m rent only and company is purchasing a car of Rs 40lacs on loan did Company get a rebate of interest and deprecation?and how we can withdraw money from the company ? company is earning from rent only......
22 December 2012
Company will get standard deduction@30% under section 24 of house property while computing rental income. Also it can claim a depreciation on car@ 15%. But for that the car should be used for official work of company only.
CAclubindia
