Introduction of capital asset as capital contribution [Section 45(3)]

Event:
Transfer of a Capital Asset by a partner to the FIRM or by a member to the AOP by way of capital contribution.

Year of Chargeability:
Previous year in which transfer takes place.

Consideration:
The value of the Asset recorded in the books of the firm or AOP.

 Assessee chargeable to tax:
The partner or member.



For Budget'2018 Impact- http://amzn.to/2nQtbYu