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Residential property purchased by Company

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223 Points Posted on 21 November 2022
Can company purchase residential property and then can give the same to Managing Director to reside without rent or take rent. what is the requirements for doing the same under company law and under income tax.
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On 21 November 2022 at 15:45 Report
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SEO Sai Gr. Hosp.
211560 Points Posted on 23 November 2022

Yes, it can be given to director, but he will be required to pay income tax for the residential facility given to him without any rent.

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On 23 November 2022 at 12:59
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Professional
1979 Points Posted on 25 November 2022
It will be RPT , unless it's under scheme imparted to senior mgmt or whole time directors of the company.And Yes it will be taxable in hands of Md Unless company pass resolution to beat tax expenses also..
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On 25 November 2022 at 12:11


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