Applicability of section 45(2) capital gain
This query is : Resolved
14 March 2014
sir please tell is section 45(2) capital gain on conversion of capital asset is applicable in the following case:
xyz Pvt. Ltd. co. real estate co.
in balancesheet of last 4 years one property was shown as investments
and in current the above investment was transferred in Closing stock of the co.
now please tell is section 45(2) applicable, even the ownership of asset is same (ie.company's status is same)
xyz Pvt. Ltd. co. real estate co.
in balancesheet of last 4 years one property was shown as investments
and in current the above investment was transferred in Closing stock of the co.
now please tell is section 45(2) applicable, even the ownership of asset is same (ie.company's status is same)
14 March 2014
how can investment directly become closing stock unless its first converted to stock?
yes 45(2) is applicable.
yes 45(2) is applicable.
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