Good will is coming under capital gain or not
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 February 2014
Dear sir/Madam
Ours is a partnership firm.we received Rs 3lacks from our previous shop owner in April 2012 as goodwill to vacate the shop,because of long leaving tenant.we received this much of amount through cheque.Is it a goodwill ?
If it is a goodwill,who have to pay a tax under capital gain and how.
Ours is a partnership firm.we received Rs 3lacks from our previous shop owner in April 2012 as goodwill to vacate the shop,because of long leaving tenant.we received this much of amount through cheque.Is it a goodwill ?
If it is a goodwill,who have to pay a tax under capital gain and how.
02 March 2014
it should amount to relinquishing the tenancy rights. covered under section 55(2)(a)
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