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
2 Replies
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 15 September 2010
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
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