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SALE OF LAND BY UNREGISTERED PARTNERSHIP

This query is : Resolved 

Hi All,
A land was purchased in year 1985 under the name of unregistered partnership firm specifying the names of 4 partners . The partnership firm is unregistered doesn't have PAN or Bank Account all transactions of purchase were done by partners accounts and the land was sold in 2020-21 and proceeds were received in partners accounts . Taxability of Capital Gains should be in hands of partners or firm ?

Capital gains taxable in the hands of partners as firm has no PAN.

Thank you so much @ CA R seetharamam



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