CAPITAL GAIN TAX FOR PARTNERSHIP FIRM
This query is : Resolved
Quick Summary
S. RAVICHANDRAN
(Querist)
29 June 2025
A partnership firm sells their plant and machinery along with deposits available in their name. Please let me know capital gain tax applicable for the firm for the Financial year 2024-25 Please clarify
Dhirajlal Rambhia
(Expert)
29 June 2025
Short term capital gain will arise over the sell price less the written down value of the plant & machinery as on 31.03.2024.
S. RAVICHANDRAN
(Querist)
29 June 2025
If capital gain tax payable, interest applicable for the payment made by July 15th 2025
Dhirajlal Rambhia
(Expert)
29 June 2025
Yes, over the 15% advance tax payable.
Dhirajlal Rambhia
(Expert)
27 September 2025
Good luck..
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