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Introduction of capital in kind by sole proprietor
what is the income tax implication of introduction of capital in kind by sole proprietor
Replies (2)
A partnership can introduce capital anytime.
Introduction of capital into business, whether it is partnership firm or sole trader, does not come under the definition of income. Hence, it will have no adjustment under income tax computation.
Note: it is immaterial that mode of capital introduction is in cash or in kind.
Note: it is immaterial that mode of capital introduction is in cash or in kind.
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