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This query is : Resolved
20 March 2009
Hi,
This is regarding computation of income of Partnership firm for A Y 07-08.
if any property (i.e. godown) purchased before 01.04.81 but not shown in balance sheet of the firm & sold in A Y 07-08,then can I claim deduction from sale proceed thru cost of acquisition or fair market value
This is regarding computation of income of Partnership firm for A Y 07-08.
if any property (i.e. godown) purchased before 01.04.81 but not shown in balance sheet of the firm & sold in A Y 07-08,then can I claim deduction from sale proceed thru cost of acquisition or fair market value
20 March 2009
Are you sure that this godown is owned by the partnership firm before 1981 or it is on the name of partner.
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