tax on immovable asset of a partnership firm

This query is : Resolved

sach Kris (Querist)
Follow

19 June 2009 Commercial land was purchased by a partnership firm from BDA[Bangalore development authority]in 1978. Partnership firm initially started with father and sons along with an uncle. Uncle later retired and partnership continued with father, mother and sons.

Q1 : If the immovable property [land] be divided among the partners of the partnership firm, will it be attracting capital gains tax and stamp duty ?
Q2 : what is the tax consequence if the partnership firm is dissolved ?
Q3 : what is the tax consequence if some partners leave the partnership firm, without any major payout.

Thanks.
Kris