Transfer of assets to a partner
This query is : Open
16 July 2012
Dear Experts
Can an Partnership firm can it assets to its partner ?
What will be value of such transfer ?
(partnership firm is not dissolving it is continuing its operation)
Can an Partnership firm can it assets to its partner ?
What will be value of such transfer ?
(partnership firm is not dissolving it is continuing its operation)
17 July 2012
it will be covered under the head capital gains
the fair market value of the asset on the date of such transfer shall be deemed to be the full value of the consideration received.
the fair market value of the asset on the date of such transfer shall be deemed to be the full value of the consideration received.
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17 July 2012
Thank You CA Sourabh
It would be wrong if we transfer the asset at it written down value ?
(asset is an non functional )
It would be wrong if we transfer the asset at it written down value ?
(asset is an non functional )
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