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Income Tax - Highlights / Catch Notes

Home Highlights April 2019 Year 2019 This

Capital gain u/s 45(4) - payment to the retiring partners - All ...

Income Tax

April 3, 2019

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 partnership asset, there was clearly no transfer of capital asset - no capital gain

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