capital gain
This query is : Resolved
27 March 2009
wether capital gain would attract on transfer of professional goodwill
28 March 2009
No,
as the act contains the term business goodwill.professional goodwill not included
as per
CIT vs B.C.Srinivasa Setty (1981) 128 ITR 294 (SC) Sec. 55(2)(a) gives an exhaustive list of self-generated capital assets which are liable to tax.
as the act contains the term business goodwill.professional goodwill not included
as per
CIT vs B.C.Srinivasa Setty (1981) 128 ITR 294 (SC) Sec. 55(2)(a) gives an exhaustive list of self-generated capital assets which are liable to tax.
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