Buying a Residential property in the name of Pvt .Ltd.Commpany

I am planning to buy a residential property for investment and for use a Guest house for delegates who visit us regularly.

Can I buy in the name of my Pvt. Ltd company ?

Can we claim GST input .

What are benefits of buying it in the name of Pvt Ltd company instead of personal name ?

Any negative points . the company already has some industrial property which is leased and generating income for that as well

Thank you

BALA

Replies (2)
Quick Summary
This discussion explores the feasibility of purchasing residential property under a private limited company, intended for investment and use as a guest house. Key questions address whether this is permissible, the implications for GST input tax credit, and the advantages versus disadvantages compared to personal ownership. The advice suggests it's generally possible, but GST input credit is unlikely, and specific accounting standards and board resolutions are necessary if it becomes a company asset.

1. Yes.

2. No.

3. Depends upon the situations. In general, no personal benefits.

 

3. IF ITS A COMPANYS ASSET.
ACCOUNTING STANDARD GUIDELINES HAS TO BE FULFILLED. A RESOLUTION PASSED BY THE BOARD OF DIRECTORS IS REQUIRED

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