Retirement of Partner
This query is : Resolved
25 November 2019
Payment made to retiring partner over and above capital contribution whether it will be taxable?
25 November 2019
Yes, when partner receives over and above capital contribution then there is capital gain.
26 November 2019
what if over and above is received on account of goodwill ?
And whether goodwill has to be booked in balance sheet?
And whether goodwill has to be booked in balance sheet?
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