Hi, I run a pvt ltd company into IT. I would like to know if it would be possible to purchase a residential property under the company's name. I don't have the funds myself to buy the required property and don't want to issue a dividend requiring me to pay a dividend tax. So wanted to know if it was possible to buy and register a property under my company name. Is it legally allowed to register properties under the name of a pvt. ltd? And if so, are there any possible disadvantages/ pitfalls I need to be aware of before taking such a step.
Also, if allowed, will all the furnishing of the place be allowed as capital expenditure. And also property taxes paid annually allowed as expenses?
CAclubindia
