Capital gains tax
This query is : Resolved
20 June 2009
Partnership Firm initially started with father, sons with an uncle, but later reconstituted with father, mother and sons.
Can the immovable assets [land, building] of the partnership firm, be allotted to the partners [all within the family], without any long term capital gains ? ie., through a family partition or settlement deed ?
Thanks
Kris
Can the immovable assets [land, building] of the partnership firm, be allotted to the partners [all within the family], without any long term capital gains ? ie., through a family partition or settlement deed ?
Thanks
Kris
21 June 2009
Yes, capital gain arise in your case
21 June 2009
it will be taxable
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- TAN for Partnership
- Relief u/s Section 89
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Loan by Partnership Firm
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
