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TF Premier
The owner of the car claims the depreciation. A company/firm can also claim the tax exempt for a car used by its directors.my dad in a partner is partnership fir so can he also claim the deduction. cause car would not be in my name.
One can also purchase the car in the name of the firm too.
Consult with your CA about which way would be the best for yo based on your scenario as its not clear who is buying it.
Thats why you will find that most of the luxury cars are in the name of the company because you claim exemption not only on interest but on depreciation.