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Capital gain

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(Querist)
14 December 2014 IF a person who joins an existing firm as partner pays to the existing partner money as goodwill. now since the firm is getting money and is selling or sharing its right of profit sharing to new the new partner does it attract capital gain?????
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Amol S Joglekar

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Amol S Joglekar (Expert)
15 December 2014 Let us NOT confuse between GOODWILL and RIGHT of Profit.
In either case there arises NO question of Capital Gain.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
15 December 2014 the ans is no..............................
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