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Director Lease out House to Company,

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(Querist)
29 February 2024 Can a Director lease out the house to The Company and live in the same house?? Rent/lease amount is as per market value only. The Company is closely held company and Director is the shareholder of the Company as well.

Can this arrangement be done? If there is any impact in Company's act also Kindly let me know?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
01 March 2024 Yes, the rental payment will be considered as perks in the hands of the director.
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