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CAPITAL GAIN TAX FOR PARTNERSHIP FIRM

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S. RAVICHANDRAN

S. RAVICHANDRAN (Querist)
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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

Dhirajlal Rambhia (Expert)
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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

S. RAVICHANDRAN (Querist)
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29 June 2025 If capital gain tax payable, interest applicable for the payment made by July 15th 2025

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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29 June 2025 Yes, over the 15% advance tax payable.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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27 September 2025 Good luck..

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