Transfer of company owned car to director

This query is : Resolved

Gourish R Arolkar (Querist)
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09 November 2017 the Director of Pvt Ltd Company wants to purchase a Car that is in the name of the company.

what is the proceedure to effect the transfer/ sale of the car to the director.

pls reply

thanks in advance.

Gourish A ( Company Secretary)

c.bakshi

c.bakshi (Expert)
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15 November 2017 you have to pass a board resolution for the same and issue a chq in favour of the company to make payment for CAR. Amount should b equal the WDV value of car so as to avoid capital gain liability

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