Extinguishment of partner's interest on retirement from the ...

Income Tax

April 27, 2016

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, which is worked out and realized and does not represent consideration received by him as a result of the extinguishment of his interest in partnership assets. - AT

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Extinguishment of partner's interest on retirement from the ...

Income Tax

April 27, 2016

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