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goodwill to retiring partner

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(Querist)
23 October 2008 Is goodwill to retiring partner is fully taxable or not? Or if it is taxable then it is under what section taxable
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
24 October 2008 Capital gains-section 55 of IT Act.
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Jitender

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Jitender (Expert)
24 October 2008 it is taxable as capital gain considering its cost as nil.
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