CAPITAL GAIN
This query is : Resolved
27 November 2009
Capital Asset converted into stock in trade:-
Assessee : Individual
If capital asset is converted into stock in trade, capital gain attracts. Tax is payable in the year in which stock is sold.
Payment for which will be received after two years.
Is Section 54F is open for me?
Assessee : Individual
If capital asset is converted into stock in trade, capital gain attracts. Tax is payable in the year in which stock is sold.
Payment for which will be received after two years.
Is Section 54F is open for me?
28 November 2009
Yes 54 F is open. Limitation starts from the date of conversion.
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