Transfer of right or control in partnership firm

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3 Points Joined September 2018
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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On 14 March 2019 at 11:32 Report
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student
5205 Points Joined February 2009

yes CG Applicable

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On 14 March 2019 at 11:54
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3 Points Joined September 2018
Can you explain the logic along with section where it is taxable?
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On 14 March 2019 at 12:10
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Team Lead
7558 Points Joined November 2011
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
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On 14 March 2019 at 13:45


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