At the time of retirement, If one does not demand goodwill and he demands for current increased valuation of assets and according to the valuation, he gets the amt. In such case, is it taken as goodwill? or goodwill is a different subject that it does not come in this transaction!! Please let me know.
Dear Gayatri
In u r case those value of asset more then cost & any case more amount taken from his/her outstanding balance in capital a/c by any partner than those more amount will be taken as goodwill & w/o as 25% depreciation also.
Arpan Bohra & Co
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