Capital gains to be taxed for partners or firm
This query is : Resolved
22 February 2013
There are 4 partners.an asset is sold after 4 years and the same day the partnership is reconstituted with an existing partner and 3 new partners.
The capital gains arising should be taxed in the hands of individual partners or firm
The capital gains arising should be taxed in the hands of individual partners or firm
CA PARAS BAFNA
(Expert)
23 February 2013
In case the asset has been sold by the firm, the capital gains will also be taxed in the hands of the firm.
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