10 May 2018
Director has purchased a motor car in his own name and therefore the motor car company has drawn the bill on the name of the director but the director has paid the bill through the bank account of the company. Now in such circumstances whether the company can claim the depreciation on such motor car in her profit & loss account.
11 May 2018
The depreciation can be claimed by the company. Pl go through the link http://abcaus.in/incometax/depreciation-allowability-for-cars-vehicles-purchased-in-the-names-of-directors.html
CAclubindia
