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Property given on lease by director

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(Querist)
19 October 2012 Hi all,

one of our clients which is a pvt limited has three directors and one director has the property which he gave for lease to the company ,

Actually the lease as per market rate is 50 L but the director has taken 200 L as lease ,

Is that allowed ?
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
20 October 2012 THE AO CAN DISALLOW THE EXPENDITURE IN EXCESS OF MARKET RENT UNDER SECTION 40A(2)
CA MANOJ GUPTA
JODHPUR
09828510543

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