20 February 2014
There is a p'ship firm And we all partner want to dissolve.. only one land is there in books of firm which all partner rec. In the proportion of profit shring ratio Tell me wat is tax treatment under I.t. act for the firm and also for the individual partner rec. Share of land.
How to make dissolution deed Send me format of deed
20 February 2014
The land is a part of capital and at the time of distribution the provisions of Section 45(4) will be attracted and the valuation of the property to be taken as per the provisions of section 50C for calculation of Capital Gains in the hands of the firm.
CAclubindia
