capital gains
This query is : Resolved
13 February 2010
the tenancy right money received by the partnership firm which is a long term capital gain. our question is whether LTCG tax will be paid by the firm or it will be divided among the partners so that they will get exemption under individual file. and what type of investment required under that long term capital gain to avoid tax.
13 February 2010
Because this amount received by the partnership firm as a tenant not by the partners, therefore it should be taxable in the hands of partnership firm only.
you can go for sec 54EC exemption in this case to clain exemption from LTCG.
Regards!!!
Dinesh S. Adhikari
you can go for sec 54EC exemption in this case to clain exemption from LTCG.
Regards!!!
Dinesh S. Adhikari
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