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    Commercial Property Capital Gain

    Posted By : mahimajain / Published on : 15-Oct-2022 04:36 AM / View : 475 / Comment : 0

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    Hello Friends,

    An individual having commercial property in his personal name was transferred as an asset in his partnership firm by way of J V Partnership Firm is claiming depreciation deduction and also showing rent from the property as income Now the commercial property is to be sold Since the property is in individual name sale proceeds will come in his personal account My question is who will bear capital gains tax, individual or firm and if taxed in individual hands how to write off an asset in firm books?

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