Partnership
This query is : Resolved
PIYUSH SINGLA
(Querist)
13 July 2012
in a partnership concern, father, mother and son are the partners. father & mother wants to gift there share to son. partnership will be converted propritorship. mt ques is will capital gain arise on such transfer ?
if yes, then under which section and how it will be computed ?
if yes, then under which section and how it will be computed ?
CA PARAS BAFNA
(Expert)
13 July 2012
In such a case the firm is likely to be dissolved. You may refer Section 45(4) for more details.
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