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Transfer of property

This query is : Resolved 
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(Querist)
10 December 2011 Dear friends,

Please advise me on this;
A private limited company , engaged in construction of residential and commercial properties, have a shopping mall in its stock in trade. The director of the company ,wants to register the same Shopping Mall with his name or his wife.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
10 December 2011 As the Stock in trade belongs to the company and if it will be registered in the name of the director, he can be treated as a debtor of company and the director has to pay this amount to the company. The amount lesser than the fair market value if charged, may be treated as perquisite in the hand of the director.
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Whenever the director will sale the property, he will earn capital gains.
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Querist)
13 December 2011 Thanks sir
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