Partnership Firm Liable for Capital Gains Tax u/s 45(4) of Income Tax Act, Regardless of Partner's Duration.

Partnership Firm Liable for Capital Gains Tax u/s 45(4) of Income Tax Act, Regardless of Partner's Duration. https://www.taxtmi.com/highlights?id=45070 Capital gain - liability to pay tax - The liability, if any, to pay the tax is on the partnership firm in view of Section 45(4) of the Act. Besides, the duration of a person being a partner in the firm does not decide the applicability of Section 45(4) of the Act, as it is not so provided therein en-us Tue, 12 Mar 2019 08:15:55 +0530 Tue, 12 Mar 2019 08:15:55 +0530 TaxTMI RSS Generator Partnership Firm Liable for Capital Gains Tax u/s 45(4) of Income Tax Act, Regardless of Partner's Duration. https://www.taxtmi.com/highlights?id=45070 Capital gain - liability to pay tax - The liability, if any, to pay the tax is on the partnership firm in view of Section 45(4) of the Act. Besides, the duration of a person being a partner in the firm does not decide the applicability of Section 45(4) of the Act, as it is not so provided therein Highlights Income Tax Tue, 12 Mar 2019 08:15:55 +0530 https://www.taxtmi.com/highlights?id=45070