CAPITAL GAIN

Tax queries 503 views 2 replies

GARVIT

c.a student

39 Points Joined August 2010

if any partner contribute any capital asset to the firm by way of capital contribution den who wil hv capital gain on transfr of that asset n wil b liable to pay tax ,,,

pls tell me yr its jst a simple....m askng for my retention

Replies (2)

Guest

dear friend

when asset is transferred to firm then it is taxable in the hands of partner and after that if firm transferred the assets to any other person then it is taxable in the hands of firm.

regards

tarun rustagi