Hi,
Company purchased a car from related parties which is one month old. Remaining life is 20 years. Cost is 1,50,000₹ and purhased at NRV 80000₹ including registration fee.
Tax savings= difference between cost value and acquireed value= 20000₹ in 20 years time.
How can I claim that amount? I'm feeling I'm legally entitled to claim because the bank denied a car loan as my company is five months old. This is an opportunity cost to me which I can't claim as expense and can't charge the customer as my revenues will get impacted.
Txs
CAclubindia
