Partnership firm of 2 partners . capital gain tax liability

Sunil (Querist) 12 September 2017 This query is : Resolved
In case of death of one partner in a two partner firm. in case a new partner is taken , will there be tax liability on the share of the firm being given to the legal heirs of new partner? will it be considered at a transfer of property to the new partner hence liable to tax ?

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Rajendra K Goyal (Expert) 12 September 2017
Tax return of the deceased income till date of death has to be filed by legal heirs and tax on his income has to be paid.

Better show all documents to local tax consultant and discuss.

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