SALE OF LAND BY UNREGISTERED PARTNERSHIP
This query is : Open
27 January 2021
Hi All,
A land was purchased in year 1985 under the name of unregistered partnership firm specifying the names of 4 partners . The partnership firm is unregistered doesn't have PAN or Bank Account all transactions of purchase were done by partners accounts and the land was sold in 2020-21 and proceeds were received in partners accounts . Taxability of Capital Gains should be in hands of partners or firm ?
A land was purchased in year 1985 under the name of unregistered partnership firm specifying the names of 4 partners . The partnership firm is unregistered doesn't have PAN or Bank Account all transactions of purchase were done by partners accounts and the land was sold in 2020-21 and proceeds were received in partners accounts . Taxability of Capital Gains should be in hands of partners or firm ?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
CAclubindia
