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.
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