Company law
This query is : Resolved
22 November 2013
urgent case... please help.
there is a company say XYZ LTD.
A PLANT is goin to be established in UP, in order to escape the stamp duty, the company wants to make punit,the ownwer of land as director....
given tht,its his land he wil hold majority shareholding.
Now the company has a fear, what if punit takes away tht plant away from them... please suggest appropiate solution followed by the company in order to save the plant from being taken away by punit in future.....???
thank you for ur help. please reply as soon as possible.
there is a company say XYZ LTD.
A PLANT is goin to be established in UP, in order to escape the stamp duty, the company wants to make punit,the ownwer of land as director....
given tht,its his land he wil hold majority shareholding.
Now the company has a fear, what if punit takes away tht plant away from them... please suggest appropiate solution followed by the company in order to save the plant from being taken away by punit in future.....???
thank you for ur help. please reply as soon as possible.
22 November 2013
If owner is punit then it will be reg in his name then co cannot be called legal owner of such plant and in such case later punit can take it away.
it should be purchased in collective names of all directors and director must give gift it to company.
it should be purchased in collective names of all directors and director must give gift it to company.
27 November 2013
but in such case if the land is purchased in collective names....then i guess we have to pay stamp duty... our point is we have to escape this stamp duty which is goin to cost us more n on tht land we hv to establish a pvt.co.
27 November 2013
but in such case if the land is purchased in collective names....then i guess we have to pay stamp duty... our point is we have to escape this stamp duty which is goin to cost us more n on tht land we hv to establish a pvt.co.
28 November 2013
either of the thing is possible and not both....either if u want in co name then have to pay stamp duty...or if u reg in others name and save duty then it cant be in com name as simple as that and there is no other way out except taking it on lease....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Gift Received from nonblood relative
- Experts need help
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
