Transfer of capital asset to partner
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 January 2013
What is capital gain implication if trf capital asset on which depreciation is also availed to a partner. The transfer is not in course of his retirement or firm dissolution?
31 January 2013
Dear friend, transfer of any capital assets of the firm to the partner , whether it is depreciable or not liable to short/long term capital gain if firm get some consideration or it will be treated as income of the receiving partner.
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 January 2013
Sir
wat is implication if trf at book value? there will be no excess/short value related to cost.
wat is implication if trf at book value? there will be no excess/short value related to cost.
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