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.
4 Replies
CA. ANKUR JAIN
(CA.....)
(2800 Points)
Replied 22 August 2011
yes you can capitalize the car in firm name if the benificial owner of the car is your firm
devang
(CA FINAL article )
(181 Points)
Replied 23 August 2011
yes, u can capitalised car in the firm name .
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