GST & INCOME TAX related issue in firm
This query is : Resolved
30 September 2019
A B & C all are partners in construction firm ABC DEVELOPERS. land are in name of all partners. GST number & exp. credit was taken in FIrm's name(ABC DEVELOPERS). now problem is that, at the time of sale Office, in sale deed saller name will be all partner names Individually. the firms' name not come in any deed or agreement except partnership deed. what should be advice for GST & Income Tax related?
04 June 2020
GST does not comes into picture and Capital gain tax will be applicable in the hands of partners.
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