sir
I want to sale my business before a partnership firm, my capital as on 31/3/2018 is 20,00,000/- o/s liability 5,07,000/- and cash in hand 2,17,000/- cash at bank is 400000/_ balance AMT is sundry debtors. now my question is if I sale my business 18,00,000/ what is tax impact?
.
Menu
sale of business
Replies (2)
You are transferring the right to carry on the business to the said firm, hence the amount received or receivable would be taxed under the head "Income from Capital Gain".
STCG will be attaracted as per section 50B slump sale as you are transferring your business undertaking as defined u/s 2(19AA).
Difference between the sale consideration and the net worth will the the STCG.
Recent Threads
- Whether GST applicable on Hardship Compensation pa
- ITC cannot be denied to Bona Fide Buyers for Suppl
- Unused ITC for Hotel after GST Change
- CA FINAL SPOM
- 44ad presumption of tax
- Friendly loan to blood relative?
- Tds penalty for in operative pans
- TDS on Property- 26QB filing Doubt
- HSN code for Exempted supplies
- HSN Summary of Outward Supplies (Sales and Advance
Related Threads
CAclubindia
