11 September 2010
A Partner wishes to sell his stake in Partnership Firm (1 lac) to another person for Rs. 10 lacs. What is the nature of income for premium recd of 9 lacs in the hands of the partner?
11 September 2010
Because this does not fall under exceptions of section 2(14) and this is the case of sale, therefore it should be taxable as sale of Capital Assets, i.e., Capital Gain should be there.
However, other experts should also show their opinions.
Regards!!! Dinesh S. Adhikari
Querist :
Anonymous
Querist :
Anonymous
(Querist)
13 September 2010
Mr Dinesh Thanks for u reply, plz clarify
if it is to be treated as Capital Asset, what is the Cost & Date of Acquisition. whether indexation benefit is avaiable.
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