Capital gains

This query is : Resolved 

21 May 2012 On retirement of a partner from partnership from the firm,
The goodwill raised and written off in gaining ratio becomes income of Retiring partner. What is the accounting entry in personal books of retiring partner and also how it will be taxed in his books? AS Capital Gains or some other head?
Please explain in detail

27 May 2012 It will be taxed as Income from business.



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