retirment of the partner
This query is : Resolved
09 November 2009
thanks for reply. but i m still not able to understand that goodwillis taxable in whose hands?
retiring partner or the firm?
any case which i can refer to
retiring partner or the firm?
any case which i can refer to
09 November 2009
Transfer of assets is liable to taxed in hand of owner. Goodwil is owned by firm, hence will be taxed in hand of firm only.
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