company issue
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2011
Dear Sir,
Can a promotor transfer his own name land to the company?
Is there is any transfer liability or tax liabiliyt?
How to transfer the land in company?
Pls reply .
Can a promotor transfer his own name land to the company?
Is there is any transfer liability or tax liabiliyt?
How to transfer the land in company?
Pls reply .
23 July 2011
Yes. The promoter can transfer the land to the company. It has to be by way of sale deed. The promoter shall have to pay capital gain tax on the same.
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