Regarding Credit
Siddharth Chhajed (11 Points)
16 November 2018
Can I take a credit on purchase of bike in firm's name? Usable for business purpose.
1 Replies
Nihit Somani
(109 Points)
Replied 16 November 2018
no it is blocked credit under section 17(5). You cannot take credit. until and unless you are engaged in the business associated with motor vehicles.
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