04 June 2012
One of Our Client Purchase 9 sitter Car in name of Director and Invoice of the same is also in name of Director. on the same Loan is also made in name of Director for such Vehicle but installment is being paid from Company Bank Account. Please suggest how to book this Transaction in Company book of Account. is there any issue of We book this Fixed Assets in Book of Company?
04 June 2012
Installment will be treated as remuneration to director or may be car rental and deduct tds accordingly. You cant book it as compant assets
CAclubindia
