a register dealer purchases a laptop for business purpose for Rs 35000 in which aprrox 5200 Is GST he will avail the input but it is necessary to show same in balance sheet for income tax purpose ,if a person purchase laptop in firm name for availing credit but use the same for personal purpose then how department will tackle them?
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178293 Points)
Replied 21 July 2017
It has to be declared in BS as purchased from Business account........ also depreciation can be claimed, if recorded....... may be used..... no check..... only on your affirmation!!!
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