Stock transfer from individual to partnership firm

Tax queries 495 views 5 replies

Mr. X is Individual Person
ABC Co. is the Partnership Firm

Mr. X is the Partner of ABC Co.
ABC Co. is running a business of Trading and Manufacturing
of Silver Ornaments.

Mr. X having Stock of 80kg Silver Bullion in his Individual
Books of Accounts now he wants to introduced this stock into ABC Co. 
as a capital, so is he liable to pay capital gain tax ?

is there any requirement of notorised deed for stock transfer
from Individual to partnership deed? if yes i need the format 
for the same.

Replies (5)
Mr. X have silver bullion as stock or Capital Asset
as a stock
Then there will be no capital gains..
i need a format for the same
is this transfer creates any GST Registration liability for Partner if transfer is exceeds Rs.20 lakh ?


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