How to value land brought in by partner ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 February 2011
Sir,
If a partner brings in land in the firm, my queries and options are as below :
1) Treat it as his capital contribution. But the question is at what value it will be introduced in the firm ?
2) Treat it as Land let out to the firm and take rent from the firm. But then can partner do so ? and can he let it out without as rent free ?
Which option will be better from the point of tax planning ? Please guide. Thanks in Advance.
If a partner brings in land in the firm, my queries and options are as below :
1) Treat it as his capital contribution. But the question is at what value it will be introduced in the firm ?
2) Treat it as Land let out to the firm and take rent from the firm. But then can partner do so ? and can he let it out without as rent free ?
Which option will be better from the point of tax planning ? Please guide. Thanks in Advance.
Guest
Guest
(Expert)
02 February 2011
There can not be thumb rule
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