A LAND HAS BEEN ACQUIRED UNDER LICENCE BY PARTNERSHIP FIRM UNDER SPV.PARTNERSHIP HAS BEEN ENTETRED INTO WITHOUT HAVING ANY CAPITAL.THE LAND HAS BEEN PROCURED BY HAVING A LOAN FROM COMPANY.NOW COMPANY WANTS TO ACQUIRE THE LAND BACK.THE QUESTION IS
1.HOW TO SETTLE THE PARTNERS AS THEY HAVE NOT CONTRIBUTED ANY CAPITAL?
2.WHAT ARE THE TAX IMPLICATIONS?
REGARDS
AJAY
CAclubindia
