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Income Tax - Highlights / Catch Notes

Home Highlights April 2016 Year 2016 This

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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