Tax-ability on sale of partnership firm

Deepak Kumar (Querist) 05 June 2015 This query is : Resolved
Partnership business which is running from 1988 is sold on "as is condition".

We would like to know the Income tax applicable on this sale transaction?

If it is sold on slump basis will there be any change on income tax applicability?

How can we reduce the income tax?

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malipeddi jaggarao (Expert) 07 June 2015
What is your practical problem. Please come out with facts.

R.K Nanda (Expert) 07 June 2015
consult tax lawyer.

Rajendra K Goyal (Expert) 07 June 2015
Consult local lawyer dealing in taxation or CA.

Deepak Kumar (Querist) 08 June 2015
Hello sir we are selling our partnership firm on slump basis..as a whole..

How much tax we should pay on slump sale?

How we can reduce the income tax?

Anirudh (Expert) 08 June 2015
Normaly for such commercial queries, you have to approach professionals (like CAs, Tax lawyers etc.), pay their fees and get the clarification.

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