Treatment of capital withdrwal in aop
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 August 2011
if an joint venture ( JV ) is executed through AOP, and the parties to AOP withdraws capital in pattern described in JV apart from profit sharing. How is withdrawal treated in the hands of parties to the AOP ?
02 August 2011
In case the amount earlier contributed by them is being withdrawn by them, such withdrawal is capital withdrawal and do not attract any tax implication.
02 August 2011
I do agree with the expert
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