14 October 2022
Individual having commercial property in his personal name was transferred as asset in his partnership firm by way of J V Partnership Firm is claiming depreciation deduction and also showing rent from the property as income Now the commercial property is to be sold Since property is in individual name sale proceeds will come in his personal account
My question is who will bear capital gains tac, individual or firm and if taxed in individual hands how to write off asset in firm books
CAclubindia
