Will transfer of right or control in partnership firm liable to capital gain??
Whether compensation a partner get in case of retirement or death of partner from partnership firm liable to capital gain?
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Transfer of right or control in partnership firm
Replies (3)
yes CG Applicable
Can you explain the logic along with section where it is taxable?
right is considered as an asset on the basis of which you are doing some activity.
now after surrender of your rights you are receiving the value for it. so it's taxable ad capital gains. however you can invest the gains in a residential house property.
you have not mentioned the period for which you were holding the rights
now after surrender of your rights you are receiving the value for it. so it's taxable ad capital gains. however you can invest the gains in a residential house property.
you have not mentioned the period for which you were holding the rights
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