Land purchase in the name of director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2014
Can a private limited company purchase land in the name of director with intention to use for company business purpose only?
20 November 2014
what is the benefit of doing so...infact co shall loose depreciation
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 November 2014
Stamp duty is lower if purchase in individual name.
01 December 2014
The Asset should be in the name of company, not in the name of Director.Director can represent in the capacity of Director only.
Company is different and Director as Individual is different. Think of the consequences, in the case of death of the Director after the land is registered in the name of the Director. The Company can not answer the shareholders.
Clarity on the reply of Mr.Tushar: Land will not have depreciation.
Company is different and Director as Individual is different. Think of the consequences, in the case of death of the Director after the land is registered in the name of the Director. The Company can not answer the shareholders.
Clarity on the reply of Mr.Tushar: Land will not have depreciation.
02 December 2014
land i think will not be kept plain so its obvious that a building shall be made on it and depn was int relation to building.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
