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Capital gain on introduction of land by partners as capital to newly partnership firm

Tax planning 826 views 3 replies
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Credit manager
6 Points Posted on 25 March 2021

Is capital gain arising on introducing plot of land as capital by partners coming together making a partneship firm? Is stamp duty also applicable? If yes what tax planning in this case? 

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On 25 March 2021 at 08:35 Report
Replies (3)
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Chartered Accountant
24588 Points Posted on 25 March 2021
Yes there will be capital gain on introduction of land into partnership the amount of the capital asset introduced by partner shall be the full value of consideration.

Stamp duty is not applicable
129 Reply
On 25 March 2021 at 09:22
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student
334 Points Posted on 25 March 2021
It's very tricky question involving Sec 45(3), 50C, 56(2)(x) and many High/supreme court judgements and a lot of interpretation.

If u just want an answer, then no Capital gain will arise and no stamp duty to be paid. But if u need detailed analysis then mention your mail Id. I will forward u
1 Reply
On 25 March 2021 at 14:43
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Partner
1072 Points Posted on 26 March 2021

Pl forward at anil.jain5900 @ gmail.com

4 Reply
On 26 March 2021 at 19:32


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