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Taxation of partnership firm

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 October 2016 In a Partnership firm 3 partners are there. now 1 partner retires and other two continues the business. Firm has 1 immovable Property which which will remain with firm only. In this case what will happened to in movable property.
will capital gain attract in this case?. Thanks in advance.
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Amol S Joglekar

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Amol S Joglekar (Expert)
24 October 2016 capital gain does not arise.

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