Partnership firm desires to open DMAT account. All Partners wants to transfer some of their shares in, firm's new Dmat account.
Partners are adding capital in partnership firm in way of shares. What will be tax as Income Tax?
1 Replies
CA Raj Doshi
(Practising CA)
(8935 Points)
Replied 26 May 2024
The value at which the shares are recorded in the partnership firm will be considered as the full value of consideration and capital gains will be triggered in the hands of partner
Sec 45(3)
Sec 45(3)
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