help me
This query is : Open
12 May 2010
Mr. A, B & C r having 1/3rd share in Partnership firm owing land & building. App. value 1 Cr. Mr. A is selling his share to Mr. B & getting Rs. 5 Lacs in addition to Capital. Post Retirement Mr. B will have 2/3rd share & Mr. C 1/3rd share. Position of tax liability in the hands of firm as well as partners. There is no change in Mr. C share. Whether goodwill A/c is to be generated in firm Books. Fair market value of Land & Building on change of Partnership is 1.25 Cr.
12 May 2010
calculation will be break into two period i.e. pre retirment period (A,B & C) and post retirment period (B & C).
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
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- Procedure for claiming exemption in Article Ship for CA Course
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
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
