Purchase of land by construction company

SHIVALI SAXENA (Querist) 03 December 2013 This query is : Resolved
In case of purchase of a land by a construction firm is it possible to get the registry of the land in the name of firm and individual in joint name or partly by firm and partly by individual.. kindly refer section for the same.moreover what will be its tax implications

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BAALASUBRAMANNYAMM (Expert) 03 December 2013
any body can purchase.No difference in this regard. You may register either in the name of a company or in an individual name. Regarding Tax implications, it is depending upon the sale consideration and holding of its tenure.

Rajendra K Goyal (Expert) 03 December 2013
Can be purchased provided developing project permits such adjustment.

DILIP KUMAR AAGARWAL (Expert) 06 December 2013
prepare two deeds. one in the name of firm and another in the name of indiviual. if you going for joint construction then prepare a amlgamation deed. if land registration in firm is costier then take registration in the indiviual name and make an agreement with the firm for construction. in this way you may save the stamp duty and might be other tax.

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