Capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 August 2011
if a partnership firm transfer a assets to his partner.are any capital gain are aries in this situation pl given me ans on it
20 August 2011
In case of dissolution, Section 45(4) talks about the fair market value to be taken as sales consideration, where the assets of a firm are distributed between the partners. Capital gains in such transactions arises as the same is treated as transfer.
.
In case where dissolution does not take palce, , in my view, the value at which the asset is transferred to the partner has to be taken as sales consideration.
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The cost of acquisition will be the book value or indexed cost of acquisition depending upon the nature of the asset.
.
In case where dissolution does not take palce, , in my view, the value at which the asset is transferred to the partner has to be taken as sales consideration.
.
The cost of acquisition will be the book value or indexed cost of acquisition depending upon the nature of the asset.
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