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budget: Tax on partnership firms: Budget change to put real estate, infrastructure consultancy firms in a fix

Synopsis
After these assets appreciated, they would bring in a new partner and old partners would exit or retire from the partnership after taking back their ‘appreciated capital’.
Agencies
This also comes around the time when the partnership structures were already under the tax department’s scrutiny following a court ruling.
Several real estate and infrastructure companies may end up paying additional tax on their return on investments since April last year after the government plugged a loophole in the Budget.
Many companies would form a partnership firm and buy assets such as land parcels through the partnership vehicle.
After these assets appreciated, they would bring in a new partner and old partners would exit or retire from the partnership after taking back their ‘appreciated capital’. ....

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(EGOV Alert) Johnson Fistel Investigates Proposed Sale of NIC; Are Shareholders Getting a Fair Price?

/PRNewswire/ Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of NIC Inc. (NASDAQ: EGOV). ....

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(GLUU Alert) Johnson Fistel Investigates Proposed Sale of Glu Mobile; Is $12.50 a Fair Price?

/PRNewswire/ Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Glu Mobile Inc. (NASDAQ: GLUU). ....

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Fox News Files Motion to Dismiss Smartmatic's $2.7 Billion Defamation Lawsuit

Fox News Files Motion to Dismiss Smartmatic's $2.7 Billion Defamation Lawsuit
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CLASS ACTION UPDATE for BTBT, JFU and CLOV: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / February 9, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. ....

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