Capital gain
This query is : Resolved
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?????
15 December 2014
Let us NOT confuse between GOODWILL and RIGHT of Profit.
In either case there arises NO question of Capital Gain.
In either case there arises NO question of Capital Gain.
15 December 2014
the ans is no..............................
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