Dissolution of partnership firm

PRIYA KANANI (CHARTERED ACCOUNTANT) (127 Points)

06 June 2018  

Sir/Mam

When AB & Co. i.e. Partnership firm having 2 Partners i.e. A and B,  is dissolved then on the date of dissolution all the assets and liabilities are tranferred to a Mr. A.

Then what are the Tax implication in the hand of partnership firm when it has trasferred its depreciable assets, debtors, advances and creditors to Mr. A.

and how to compute it.

 

Kindly Resolve my Query as soon as possible.