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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Capital Gains on sale of residential flat
- F & O PROFIT REPORTING FOR AY 2026-27
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
