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
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Annual return of gst limit
- Bank accounts of Non resident
- ESIC- Employee Registration
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
