| Question And Answer | |
|---|---|
| Subject: | tax implications on retirement of a partner with debit capital balance |
| Category: | Income-Tax |
| Querist: | NIKHIL KANTILAL MODI |
| Answered by: | Reply of the Expert is awaited; |
| Tags: | partnership firm |
| Date: | February 24, 2025 |
if a retiring partner retires with the debit capital in his name, the firm can claim capital loss. at the same time , whether the retiring partner will have to pay long-term capital gains tax/ short-term capital gains tax? if so, how can it be saved?
Reply of the Expert is awaited. Please check back later
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