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Rental agreement in name of company

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01 April 2024 company having guest house on rent and agreement is between director and owner. can be book guest rent and expenses related to guest house, in name of company.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
01 April 2024 Yes, if director has powers and guest house is used by the company.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
02 April 2024 in terms of booking the expenses, yes. But you need to account for the issue that without a sublet agreement between the director and company any payment made would still be a payment made on behalf of the director and should be added to his compensation. This may have TDS implications as well as tax implications for the director.

alternatively, you may sign a sublet agreement. The tax implications would still be same. but the accounting will be easier.
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