Namaste to all,In case of partnership firm where one of the partners is retiring and one property purchased in the name of the partners with firm funds.Now,the continuing partners are getting the sale deed executed from the retiring partner.whether the sale amount mentioned in the sale deed is taxable under capital gain? if yes the cost of acquisition is original or after depreciation.
secondly,the retirement deed is to be executed in future and one of the properties is transferd to the continuing partners by sale deed prior to retirement deed.How it is assessed in the hands of retirng partner?
