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Commercial Property Capital Gain

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(Querist)
14 October 2022 Individual having commercial property in his personal name was transferred as asset in his partnership firm by way of J V
Partnership Firm is claiming depreciation deduction and also showing rent from the property as income
Now the commercial property is to be sold
Since property is in individual name sale proceeds will come in his personal account

My question is who will bear capital gains tac, individual or firm
and if taxed in individual hands how to write off asset in firm books
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
14 October 2022 Firm is claiming depreciation hence any gain on it's sale will be taxable in the hands of the firm as normal income and taxed at 30%.
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