A Partnership firm has been dissolved. Stock-in-trade of the firm has been distributed among the partners. The partners form another partnership firm and introduce the same stock-in-trade as capital contribution. Does this transaction involve capital gain as the status of the stock-in-trade has not been changed.
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treatment of stock-in-trade after dissolution of partnership
Replies (1)
it is not chargeable to capital gains.
but it is subject to tax u/h business & profession.
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