Partnership firm quary

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Himanshu jain (Querist)
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07 November 2015 Dear, sir i have one case of partnership firm Dealing in property construction and sale of property, is case me quary yeh hai ki, property me 26 flat sale kiye hai kuch flat firm ke name se sale huye hai aur kuch parners ke name se (registry galti parner ke name se ho gayi) is case me jo sale tornover hai wo kya hum firm ka mane ya parners ke indivdual ka ? aur jis land per property ka construction hua hai wo partner ki hai parner ne land as a capital contribution (joint venture)firm me use ke liye diya hai is case me solution kya hoga

Amol S Joglekar

Amol S Joglekar (Expert)
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07 November 2015 if it belongs to FIRM, show it under the sales of FIRM even if executed in partner's name.

The land contributed as capital shall be governed as per section 45

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