Land Issue

[Asked by Guest]

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?

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above issue? If not please inform.

AI Summary

Tax benefit transfer: seeking mechanisms for a company to obtain a director's land tax advantages without ownership change.
Director majority shareholder seeks to transfer the tax benefit of a plot held in his name to the company without transferring ownership; requests alternatives for the company to obtain maximum tax advantage while ownership remains with the director; reply sought clarification from the inquirer.