Flat on rent by director to pvt ltd company

[pradip patwardhan]

Dear Experts,

my query is, at private limited company,can director of that company give his own flat on rent to pvt ltd company and then can company give that flat to the same director for his residence at free of cost as company director. what will be the effect of above transaction in all respect. Kindly reply.. itts urgent ..

thanks and regards,

Pradip

AI Summary

Director Queries Tax Implications of Renting Personal Flat to Company for Free Residence A director of a private limited company inquired whether he can rent his personal flat to the company, which would then allow him to reside there free of charge as a company director. He sought clarification on the implications of this transaction, particularly concerning taxation or any other relevant matters. The response requested clarification on the specific aspect-taxation or otherwise-for which guidance was needed.