17 July 2010
Sir I was using a car for my personal use till 31-03-2009 after which I started my proprietorship firm and on 1-04-2009 I transferred my car to my peoprietory firm. The original cost of the car was Rs.8,00,000.00 and the interest paid to the financer was Rs. 109000.00.
Kindly let me know the value at which I am to transfer the car.
CAclubindia
