Taxation of partnership firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 October 2016
In a Partnership firm 3 partners are there. now 1 partner retires and other two continues the business. Firm has 1 immovable Property which which will remain with firm only. In this case what will happened to in movable property.
will capital gain attract in this case?. Thanks in advance.
will capital gain attract in this case?. Thanks in advance.
Amol S Joglekar
(Expert)
24 October 2016
capital gain does not arise.
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