Capital gain on distribution of assets by a firm
This query is : Resolved
04 August 2012
can the capital gain on distribution of assets by the firm to partners in case of retirement of a partner be avoided?
plz tel me how can it be done
plz tel me how can it be done
CA PARAS BAFNA
(Expert)
04 August 2012
Capital Gain arising to a firm on the retirement of a partner ... depends upon the nature of the asset transferred. In case of transfer of a Long Term Capital Asset , you may search the available benefits U/s 54EC, i.e. investment in capital gain bonds.
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