{"id":29812,"date":"2022-09-16T19:56:35","date_gmt":"2022-09-16T14:26:35","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=29812"},"modified":"2022-09-18T16:48:29","modified_gmt":"2022-09-18T11:18:29","slug":"lumpsum-consideration-on-retirement-from-firm-who-is-having-debit-balance-u-sec-454-of-income-tax-act","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/lumpsum-consideration-on-retirement-from-firm-who-is-having-debit-balance-u-sec-454-of-income-tax-act\/","title":{"rendered":"Lumpsum Consideration on retirement from firm who is having debit balance U\/Sec. 45(4) of income Tax Act"},"content":{"rendered":"<p>X is a partner in a firm along with other partners. Firm has some assets, properties etc. X has a debit balance in the firm of 10 lakhs .<br \/>\nHe leaves the firm With lump sum consideration 50 lakhs .<br \/>\nAny tax implications for firm or partner??<br \/>\nThe status of debit balance in the firm ??<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[696,546],"class_list":["post-29812","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-lump-sum-consideration","qa_tag-retirement-of-partner"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/29812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=29812"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29812"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=29812"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=29812"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=29812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}