Money received from partnership firm on retirement is exempted from capital gains tax

Capital gain tax is levied on returns from all equity investment as well as real estate investments. As per the details of the case a partnership firm was formed in 1992. As per the partnership model, partners are required to bring in capital and based on the ratio they split the profits available.

from Personal Finance News-Wealth-Economic Times https://ift.tt/3rlMqsO