Taxability of amount brought by new partner??

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irfan (Querist)
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01 October 2014 Hello sir/mamI want to know whats a treatment of amount brought by new partner??if its treats as goodwill?or if treats for stock amount ??

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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01 October 2014 its capital amount not taxable.............

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irfan

irfan (Querist)
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02 October 2014 Thanks sir,but i forget to tell that such capital brought by new partner is not paid to firm but its paid to old partner...then??my problem is that at present one properitorship business is running and that properitor has software of ₹1500000,now he decide to make firm and joint 3 new partner and make firm.all new 3 partner paid 375000 to partner who was carring business..such amount paid by new partner is not capital and also non refundable to 3 partner.so whats a treatment in hands of old partner??

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irfan

irfan (Querist)
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02 October 2014 Thanks sir but my problem is th