45(2)
This query is : Resolved
01 September 2011
respected sir, when we convert capital asset into SIT THEN ITS TAXABLE UNDER "CAPITAL GAIN" IF SIT IS CONVERTED INTO CAPITAL ASSET THEN WHAT IS THE TREATMENT..??
03 September 2011
Yes any assets under closing stock if converted in Capital assets attracts LTCG or STCG as the case may be and tax has to be paid on the basis of the calculations
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