Taxablity issue

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siddharth (Querist)
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17 March 2015 is having a share in a partnership firm as a partner be treated as a capital asset for taxation purposes? can one transfer such share to any person by entering into an agreement for transfer of rights and liabilities coming therewith for a lawfull consideration with or without the consemt of other partners

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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17 March 2015 there is no share as per compnaies act so there is no question of transfer...but there is share of profit concept...

u can be either a partner or non partner but cant transfer all rights and liabilities as u have asked.

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