Assets of Pvt. Ltd. Co.
This query is : Resolved
Shah Tarun
(Querist)
22 October 2008
In accordance with assets which of the following option is beneficiary for private limited company
-To purchase assets directly on company's name or
-To purchase asset on director’s name and then director give it on lease to company.
Kindly answer with view of corporate law and Taxation.
Which option proves better at a time of amalgamation/ liquidation.
-To purchase assets directly on company's name or
-To purchase asset on director’s name and then director give it on lease to company.
Kindly answer with view of corporate law and Taxation.
Which option proves better at a time of amalgamation/ liquidation.
S.Srinivasaraghavan
(Expert)
23 October 2008
THere can not be standard answers for questions of this nature. Each case will be unique and will require a specific solution. You have to state all the facts and figures for getting solution.
23 October 2008
This is be viewed from the pros & Cons of both the alternatives:
For eg:
Alt 1 - Lease:
Lease Rentals are wholly deductible from Income Tax Act but there is no dep benefit.
Alt 2 - Own:
Depreciation is allowed over a period of long run
For eg:
Alt 1 - Lease:
Lease Rentals are wholly deductible from Income Tax Act but there is no dep benefit.
Alt 2 - Own:
Depreciation is allowed over a period of long run
CA Bosu babu
(Expert)
24 October 2008
As per IT act which ever it is giving more benifit i mean more deduction you can take that option....
and I am supporting Mr.Srinivasan
and I am supporting Mr.Srinivasan
S.Srinivasaraghavan
(Expert)
30 October 2008
And it depends upon whom do you want to benefit, director or company or both!
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