Private ltd company immovable assets
Hi my mother and father are the only directors of a pvt ltd company in bangalore,
The pvt ltd company has a lot of tax liabilities like sales tax service tax.
No creditor vendors.
Our only house we are living in is an asset of the company,
I want to save my house from tax authorites taking it away for the tax liabilities due,
how do we transfer the house to directors name or my name(only child daughter) .
I am willing to pay stamp duty 6 percent.
Currently it's in loan in the bank.
I was told that only regular deed will get registered and title deed will not unless n until the check is cashed,
by this the income tax officials will be informed.
Also me and my mother are having a partnership company with huge tax liabilities.
Will the directors of pvt ltd mom n dad
Partnership mom n me be personally liable for the taxes and will they come after, what if we open newcompany or reduce percentage?
Please please help me save my house.
Please give me clever ways to get the house out the company, sale option is 9 crores and I don't actually have that money, unless there is a way around it and the title deed actually gets transfered without informing tax when check is cashed by us at registar.