TaxTMI 
TaxTMI 
TaxTMI 
CAPITAL GAINS FOR RETIREMENT OR DISSOLUTION OF PARTNERSHIP
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....APITAL GAINS FOR RETIREMENT OR DISSOLUTION OF PARTNERSHIP<br> Query (Issue) Started By: - murtaza hussien Dated:- 21-7-2014 Last Reply Date:- 31-12-2015 Income Tax<br>Got 1 Reply<br>Income Tax<br>CAPI....
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....TAL GAINS TAX ON RETIRMENT / DISSOLUTION OF PARTNERSHIP Mr. A has Capital A/c of ₹ 15,00,000. His share in the assets of the firm comes to ₹ 80,00,000/- Case 1. He retires from the fi....
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....rm and he receives ₹ 25,00,000 in cash and balance 55,00,000 in a godown (property in name of firm) transferred to Mr. A. Cost to firm ₹ 20,00,000/-. Would the firm have to pay capital ....
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....gains tax u/sec 45 on 55lacs-20lacs on property transferred and also on the 25lacs - 15 lacs , excess given to partner on his capital account What if the firm, revalues the godown before dissolution ....
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....and makes book entries. is this legal and allowed by ITO CASE 2 Same as above, but dissolution. the three partners all take ₹ 80lacs consisting of cash and property. Their capital account is ....
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....₹ 15 lacs each. Would the firm be liable to pay tax on all the transfer of properties. CASE 3 All partners are brothers. Can a family settlement be made and properties transferred before MR.....
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.... A retires from partnership. The firm is based in Thane Dist.Maharashtra and all partners reside in Thane. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Whether you have got clarified in the above is....
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....sue? If not please inform.<br> Discussion Forum - Knowledge Sharing ....