Capital gain on transfer of assets of firm to partners'
This query is : Resolved
Mallika Shah
(Querist)
04 July 2012
AB is a partnership firm, which has been dissolved in FY 2011-12.
On dissolution, a plot in the name of partner A (which appears in Balance sheet of AB)is being taken by partner A, what will be taxability of the same in the hands of firm and how to determine the same
On dissolution, a plot in the name of partner A (which appears in Balance sheet of AB)is being taken by partner A, what will be taxability of the same in the hands of firm and how to determine the same
CA Hardik Bunha
(Expert)
16 January 2013
if it is dissolved then capital gain tax will be attract.
market value of plot will be sales consideration.
market value of plot will be sales consideration.
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