Depreciation
This query is : Resolved
sankar ponnan
(Querist)
11 August 2020
Sir
A transport company pays all the expenses relating to the trucks owned by the director and reimburse all the expenses made by it.
Here, can company claim depreciation as the truck owners are the directors of company ?
suggest me
thanks in adv
A transport company pays all the expenses relating to the trucks owned by the director and reimburse all the expenses made by it.
Here, can company claim depreciation as the truck owners are the directors of company ?
suggest me
thanks in adv
CA R SEETHARAMAN
(Expert)
11 August 2020
Transport company can't claim depreciation on trucks owned by director.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Advances to related party
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
