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kirti (Accountant)     19 July 2008

Car agreement owner-company

Hi all

Can any one solve this query ?

Mr. X is a director of the XYZ  Company.

Mr. X has purchased car on loan installment from ABC Company.

Now XYZ company is ready to pay rent to Mr. X for car, as Mr. X is using car XYZcompany's work purpose.

Everymonth Mr.X is paying installment of rs. 10600 to ABC Company.

N Every month XYZ Compnay paying Rent rs. 10600 to Mr.X.

Now is it possible to make agreement such way that XYZ company directly pay rent to ABC company & by this way no income comes in hand of Mr. X.

N Mr.X's will be not lible to pay income tax on Car Rent.





 3 Replies

kirti (Accountant)     19 July 2008


ASHUTOSH (lawyer)     19 July 2008

yes why not MR. X CAN write to that company from where he has taken car and stated to rest instalment will be paid by my comany



delhi high court

GOPI KRISHNA (ADVOCATE)     20 July 2008

yes it is possible and draft the agreement on the above said lines and get signed by the both the parties

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