Capital gain to partnership

Karthi S Krishna (Asst Manager (Internal Audits))   (24 Points)

30 May 2015  

Dear Members,

A partner of a Firm brings Land as his share of Capital. Will this transaction be considered as a Transfer U/s 47 of the IT Act and also whether the Land Deeds have to be mutated.

Kindly advice on the matter,

Regards

Karthik