Hi All,
can a private limited company director transfer his own property to company? If yes, then is there any tax implications?
4 Replies
CA Raj Doshi
(Practising CA)
(8924 Points)
Replied 19 November 2022
Clear case of transfer of property liable to capital gains
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)
(8924 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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