When a partner retires from the firm and receives share of ...

Retiring Partner's Share Based on Partnership Assets, Including Goodwill, Not Taxed as Capital Gains u/s 45.

October 17, 2016

Case Laws Income Tax AT

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 interest of the partner in the goodwill and no part of the amount received is exigible as capital gain u/s 45 - AT

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When a partner retires from the firm and receives share of ...

Retiring Partner's Share Based on Partnership Assets, Including Goodwill, Not Taxed as Capital Gains u/s 45.

October 17, 2016

Case Laws Income Tax AT

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