Nowadays property buying using companies is very much in vogue. You can be a business owner, a contractor, an independent professional and more who is interested in buying a property through your company. So if you have the query- can a business buy a residential property, let me tell you it can. It will help you to have complete savings on mortgage interest as well as have lower tax rates and more flexibility.
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Can a company buy a residential property?
A company can buy a residential property but in such case,
The company will be recognised as a separate entity and
The company’s assets will be owned by the firm itself
Before buying a property through a company, certain factors must be considered like-
- Your income-
when an individual buys a property, he/she pays more tax compared to the payable tax of a property that is bought through a company as it falls under the Corporate Tax.
- Whether you already own a property or not-
consider whether transferring a property to your business is going to be beneficial or not.
- Whether you already own a business or company-
if an individual does not already owns a company, he/she must consider whether it is worth forming one or not and also what will the cost of running it.
In short to answer- can a business buy a residential property, I will say it can and the property can be both commercial or residential.
Read More:Can I buy commercial property by selling residential property?
In which Indian states are people from outside not allowed to buy residential property?
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Can a Business Buy a Residential Property?
Paromita
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2 Year
2023-02-28T15:31:37+00:00 2023-02-28T15:31:52+00:00Comment
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