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Income Tax - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

Capital gain - conversion of the partnership firm into company - ...

Income Tax

March 9, 2016

Capital gain - conversion of the partnership firm into company - the conditions laid down under section 47(xiii) of the Act have been fulfilled in this case. Therefore, no capital gain is chargeable under the provisions of section 45(4) of the Act. - AT

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  10. Reconstitution of partnership firm – liable to capital gains for assets transferred from earlier firm to new firm

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