Menu
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.
Recent Topics :
- Representative assessee
- Investment Income as Business Income for Sec. 44AD
- In ITR 4 u/s 44ADA what amount we shoud show under
- Salary expenses how to treat
- Pos related issue
- Gift of unlisted shares to friend upon marriage
- Utilising Section 54(F) for capital gains reinvest
- GST ewaybill closure and Bill to ship to GST numbe
- TDS ON PARNTER INTEREST
- Share important chapters of ca inter costing
Related Topics :
CAclubindia
