Capital gain
This query is : Open
amol patil
(Querist)
25 January 2021
Their is dissolution of partnership firm and one of partner continue same business in proprietorship.
But their is one immovable property in partnership firm so on transfer of capital assets capital gain issue comes in the firm. we are transferring capital assets on book value.
so how we calculate capital gain in firm ,which amount to be considered as sales consideration and cost of purchase..
But their is one immovable property in partnership firm so on transfer of capital assets capital gain issue comes in the firm. we are transferring capital assets on book value.
so how we calculate capital gain in firm ,which amount to be considered as sales consideration and cost of purchase..
CA Rashmi Gandhi
(Expert)
25 January 2021
Read below mentioned article
https://www.google.com/amp/s/taxguru.in/income-tax/transfer-property-firm-partners-taxation-aspects.html%3famp
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