Quaries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2011
sir pls tell me,what is the tax treatment when a existing partner brings land as capital contribution is there is any capital gain tax & when firm get dissolve then what is again tax treatment
30 October 2011
1.Land transfer by partner to firm subject to Capital gain tax in hands of partner u/s 45(3),,,amount of land recorded by firm in the books of accounts is treated as sale considaration in hands of partner.
2.when any asset distributed by firm at the time of dissolve subject to capital gain in hands of firm u/s 45(4)..Fair Market value of the capital asset on the date of distribution shall be taken as sale considaration.
your welcome for more queries
2.when any asset distributed by firm at the time of dissolve subject to capital gain in hands of firm u/s 45(4)..Fair Market value of the capital asset on the date of distribution shall be taken as sale considaration.
your welcome for more queries
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
