Expenditure on Vehicles in the mane of Director
This query is : Resolved
25 December 2009
Dear All,
Good Day,
We are running a Maruti Van for pick up drop up of Company's staff regarding this running & maintenance charges are claiming the Companies Books of Accounts.
However Maruti Van is in the name of one Directror of the Company.
Whether it is allowed to claime the expendirue or not as per Income Tax.
Please advise.
B'regards
Saran
Good Day,
We are running a Maruti Van for pick up drop up of Company's staff regarding this running & maintenance charges are claiming the Companies Books of Accounts.
However Maruti Van is in the name of one Directror of the Company.
Whether it is allowed to claime the expendirue or not as per Income Tax.
Please advise.
B'regards
Saran
25 December 2009
yes, the exp is allowable becz the same is being used for business as per sec37.
25 December 2009
allowable
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