Can there be any capital gain
This query is : Open
23 March 2013
IF A PARTNERSHIP TRANSFER ALL ITS INVESTMENT OF LISTED SECURITIES LIKE RELIANCE , TATA , ETC. TO ALL PARTNER PERSONAL ACCOUNTs than will it be liable to capital gain or not ???
23 March 2013
yes it will be liable to capital gain
23 March 2013
can u plz provide me the section refernce...for the same
23 March 2013
45(3) talks about partner transferring asset to firm being chargeable to capital gain. value to be taken as per recorded in books.
45(4) talks about talks about distribution of capital asset on dissolution of a firm where fmv needs to be taken..
thus based on these sections if a firm is transferring its asset to the partner, then it will be capital gain for the transferor i.e. the firm
45(4) talks about talks about distribution of capital asset on dissolution of a firm where fmv needs to be taken..
thus based on these sections if a firm is transferring its asset to the partner, then it will be capital gain for the transferor i.e. the firm
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Is online PGCE worth it?
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
