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Ca Sufiyan Ganodwala

Latest Posts by Ca Sufiyan Ganodwala

Reconstitution/Dissolution of firm? Transfer of Assets to partner? | Tax implications

July 25, 2021 5244 Views 1 comment Print

Reconstitution/Dissolution of firm? Transfer of Assets to partner? Wait…..!! Here are the tax implications… Finance Act 2021 has made amendments to the provisions  of the Income Tax Act, pertaining to the tax liability arising on distribution of assets by the firm to its partners on its reconstitution or dissolution.(Note: The words ‘Firm’ and ‘Partners’ are […]

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