partnership change to propriter
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 October 2010
what would be the tax treatment if partnership convert into propritership.all asset were taken to WDV of immediate previous year.is it transfer?
05 October 2010
it would amount to dissolution of firm. Please refer to IT Act section 45 it would be transfer to individual and CG will arise
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