Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights October 2013 Year 2013 This

Depreciation on amount paid to retiring partner as goodwill from ...

Income Tax

October 31, 2013

Depreciation on amount paid to retiring partner as goodwill from the partnership firm - Share of the capital came to be paid to the retiring partner and it cannot be treated as cost paid to the retiring partner towards acquisition of any right from him. - HC

View Source

 


 

You may also like:

  1. When a partner retires from the firm and receives share of amount calculated on the value of partnership asset including goodwill of the firm, there is no transfer of...

  2. Dissolution of partnership - taxability of sum received by a partner - Any amount paid to a partner as his share on dissolution of the partnership firm cannot be...

  3. Determination of remuneration paid to partner - working / retiring partner - the firm has incorporated the terms of section 40(b), providing for the maximum amount of...

  4. Receipt of amount as goodwill on retirement - right of partner in the partnership firm - capital asset u/s 2(14) - extinguishment of such right in the firm - HC...

  5. Capital receipt chargeable to tax u/s.45 - claim of exemption u/s.10(2A) - amount received by the assessee partner from the partnership firm - There was no transfer of...

  6. Characterization of income - consideration received by the partner of a firm upon retirement from the firm - retirement benefit - any money received by the partner upon...

  7. Imposition of penalty - If any liability arises against the partnership firm i.e. shifted on partners of partnership firm in the sharing ratio of the partners,...

  8. Extinguishment of partner's interest on retirement from the partnership firm - when a partner retires from partnership what he receives is his share in the partnership,...

  9. Capital gain u/s 45(4) - payment to the retiring partners - All that happened was the firm's assets were evaluated and the retiring partners were paid their share of the...

  10. Disallowance on account of remuneration paid to partners of the firm - The partnership deed has specified that the amount of remuneration allowable u/s 40(b)(v) would be...

  11. Characterization of receipt - amount received by the appellant upon retirement from the partnership - taxability as capital gains under the Income Tax or not? - The High...

  12. Reconstitution of partnership firm - one partner retired and two were continue - provisions of Section 45(4) is applicable as it amounts to transfer - capital gain is...

  13. Depreciation on goodwill - zero asset shown in the books - The contention of the Ld. DR that it has zero asset shown in the books of CRAZY NETWORK appears to be...

  14. Depreciation on Goodwill – additional payment to retiring partner - No goodwill stands acquired by the assessee firm upon the impugned payment/s, the question of the...

  15. Retirement from partnership firm - lump sum payment in consideration of the retiring partner assigning or relinquishing his share or right in the partnership and its...

 

Quick Updates:Latest Updates