Lease of house to M.D
This query is : Resolved
27 October 2010
Dear Sir,
Mr. X is the Managing director of XYZ Pvt Ltd co. Mr. X owns a flat.
The company intends to take the flat owned by Mr. X on lease for rent of Rs. 25,000 per month and give it to Mr. X himself as Rent free accommodation. Is this valid?
If valid , is the company liable to deduct TDS on lease rent.
Please clarify,
Thanking you,
FROM,
V. Prasad.
Mr. X is the Managing director of XYZ Pvt Ltd co. Mr. X owns a flat.
The company intends to take the flat owned by Mr. X on lease for rent of Rs. 25,000 per month and give it to Mr. X himself as Rent free accommodation. Is this valid?
If valid , is the company liable to deduct TDS on lease rent.
Please clarify,
Thanking you,
FROM,
V. Prasad.
27 October 2010
1) Ya there is nothing wrong in this transaction, infact most of the public limited company do this for eg.BPCL.
2) tds will be required to be deducted.
2) tds will be required to be deducted.
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
- REGARDING ITR FILING QUESTION
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
