if partner from partnership firm is going toretire and recieves his capital and also certain amount
then what r the tax implication on this ceretain amount
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retirement of partner
Replies (1)
Hi Shruthi,
In my view Receipts of Capital portion is not subject tax, since It will not fall within Meaning the definition of income under IT Act.
and please give the details / naturer of "Certain amount".
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