Company purchase assets in the name of others
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 June 2014
Respected All
A company has paid in cash and also in cheque to purchase land in the name of employee/others due to land cannot be register in the name of company. What will be implication or effect as per Companies Act, Income Tax Act and other relevant act.
Please give your valuable opinion
Thanking you
Regards
CA Punam Verma
A company has paid in cash and also in cheque to purchase land in the name of employee/others due to land cannot be register in the name of company. What will be implication or effect as per Companies Act, Income Tax Act and other relevant act.
Please give your valuable opinion
Thanking you
Regards
CA Punam Verma
25 June 2014
All the incomes and Tax implications from/on the land will borne by the employee(s)
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