[aurangabad_ca] tax on goodwill
dear friends
one of my client is a partnership firm. now they dissolved it. there are only 2 partners. one has taken the business & started as proprietorship.. now my query is the partner who has left is asking Rs. 1,00,000/- excess than his capital as goodwill. will this goodwill is taxable ? & if yes, than in whose hand ? woh much tax will come ? pls reply as early as possible
thanks in advance
ca kirankumar k. jain
m .no. 9820162905
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AURANGABAD_CA is a Yahoo Group for the benefit of CA and other professional. It is especially meant for written discussion within group members and circulate the information among its members. The mail may contain such research/advice/opinion/information/fact provided by any member or moderator and every contain of the mail or information of yahoo is always subject to the Accuracy and of the description of facts.
The Aurangabad_CA , its moderator/owner do not claim that contains in mail/information obtained after reading as a complete and accurate disclosure of relevant fact(s).
Considering all above facts m the transaction based on above mail may not complete without confirming proper statue/authority/person. Therefore any action/transaction taken on basis of this mail do not imply the accuracy or value . Further this Group's Owner/Moderator/Member are not liable for any damages or costs suffered due to action/transaction based on information on this Yahoo Group.
For Seeking any Clarification you may mail only to Group Moderator on
girishkulk@gmail.com
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