Hi All,
can a private limited company director transfer his own property to company? If yes, then is there any tax implications?
Abhijit Shingate (5 Points)
18 November 2022Hi All,
can a private limited company director transfer his own property to company? If yes, then is there any tax implications?
CA Raj Doshi
(Practising CA)
(8790 Points)
Replied 19 November 2022
Abhijit Shingate
(5 Points)
Replied 19 November 2022
So there is no restriction on transferring director's property to company by paying capital gain tax. Intention is company will take care of the property and expenses associated with the same. Director will continue to stay in the same property. Is there any issue with this type of engagement?
CA Raj Doshi
(Practising CA)
(8790 Points)
Replied 19 November 2022
I guess you only need to make a rent agreement between director and company and your objective shall be achieved.
No need to unnecessarily transfer and pay capital gain tax.
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