Two wheeler and a.c. for personal purpose


19 June 2021 Sir,
One of the it assess two wheeler and air conditioner purchase for personal purpose.
Question:
Assess two assets how to show procedure in books and it returns under gst and it act.

19 June 2021 Since these are for personal purpose, there is no need to show them in the books. Even if shown, ITC would be ineligible and expense would be disallowed under Income Tax Act

19 June 2021 If it is for personal purpose don't account for it in business. No ITC will be available either.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries