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capital gain

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(Querist)
29 September 2009 wat is de tax treatment wen firm distributes capital asset to its partners in de event of dissolution of de firm or on de retirement of one of de partner . There r four partners in dis case.
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Ratan Sharma

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Ratan Sharma (Expert)
02 October 2009 Hi Manisha,
There will be no capital gain in case of retirement of partners however in case of distribution of capital asset on dissolution of firm then capital gain will arise.
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