Land Issue

[Priyanka Chaubey]

1)      Mr. X is a director of the Company and holds the majority shares approx. 98%.

2)      Mr. X holds a plot land in his name.

3)      Mr. X wants to transfer the maximum tax benefit to the company of the land without the change in ownership of the land.

4)      Possible alternatives of getting the maximum tax benefit of the plot by the Company without the transfer of ownership of the Director?

AI Summary

Company Director Seeks Tax Benefits for Land Ownership Without Transfer of Title Under Section 98 A discussion was initiated regarding a land issue involving Mr. X, a company director who owns 98% of the company's shares and a plot of land. Mr. X seeks to maximize tax benefits for the company from the land without transferring its ownership. A response by another participant asked if the issue had been clarified, inviting further information if needed.