Taxation of partnership Firms of Real Estate Business

Indudhar, firm is just another assessee. All the provision of income tax will apply accordingly.

If they are holding property as investment. than their will be cap gain, otherwise PGBP.

Any rene received from property will be taxable under PGBP.

Hope it will help.

Regards

Piyush

If the nature of firms busniess is real estate the it will be treated as Income form business and not from capital gains. But the partner whos the land belongs should pay capital gain tax when such transfer( to outsider but not firm) takes place. Refer sec 45(2) and 45(3) conversion of captial asset into stock in trade.