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Partner Retirmenet

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11 March 2024 If the partners capital account balance is Rs 10 lakhs, Can he retire by accepting Rs 5 lakhs as the full and final settlement. Will there be any tax implications for the firm or partner
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
05 May 2024 Firm will be taxed for the balance amount.
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