HELLO FRIENDS, IF THE PARTNERSHIP FIRM HAS PURCHASED THE CAR BUT CAR IS IN THE NAME OF THE PARTNER. CAN THE FIRM CAPITALISE THE CAR IN THE FIRM BOOKS OR NOT.
INSTALLMENT IS PAID FROM THE FIRM CURRENT ACCOUNT.
PLS. HELP ME.
RAJ KUMAR (FINANCE MANAGER) (1393 Points)
22 August 2011HELLO FRIENDS, IF THE PARTNERSHIP FIRM HAS PURCHASED THE CAR BUT CAR IS IN THE NAME OF THE PARTNER. CAN THE FIRM CAPITALISE THE CAR IN THE FIRM BOOKS OR NOT.
INSTALLMENT IS PAID FROM THE FIRM CURRENT ACCOUNT.
PLS. HELP ME.
CA. ANKUR JAIN
(CA.....)
(2800 Points)
Replied 22 August 2011
devang
(CA FINAL article )
(181 Points)
Replied 23 August 2011
yes, u can capitalised car in the firm name .
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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