Purchase of Property by Company

568 views 1 replies

Hellow.....

can a company purchase immovable property in the name of one its Director?

 the following are contents -

Payment by Company -

property will be showing in the Balance sheet of the Company and claiming depreciation

Registration of property in the name of Director to save stamp duty

No rent agreement is made and paid by company

kindly discuss the issue

Replies (1)

I dont think that the Company can purchase the propertyin name of its Director. For claiming depreciation, property has to be registerd in its own name.

 

Other views solicited.

 

Regards,

 

Ashish

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