Capital gain on stock transfer
This query is : Resolved
28 January 2014
Dear Kaushik Sir,
please suggest me about a case as given below- I am a sole proprietor of a business and entered two new partner in my existing business and convert my business in partnership firm with my existing closing stock Rs. 1750000/- and liabilities Rs. 3454000/-.my question is that stock transfer is subject to capital gain?
if,it is subject to capital gain than how it is calculated?
please suggest me about a case as given below- I am a sole proprietor of a business and entered two new partner in my existing business and convert my business in partnership firm with my existing closing stock Rs. 1750000/- and liabilities Rs. 3454000/-.my question is that stock transfer is subject to capital gain?
if,it is subject to capital gain than how it is calculated?
29 January 2014
Hello Neeraj,
Stock transfer will not be subjected to capital gain.
But it will be considered as Gain from Business.
Stock transfer will not be subjected to capital gain.
But it will be considered as Gain from Business.
30 January 2014
Respected Sir,
It means that the stock which has been transfered by the sole proprietor while making the business under partnership will be considered as gain from business, please tell me how it will be calculated as gain from business.
It means that the stock which has been transfered by the sole proprietor while making the business under partnership will be considered as gain from business, please tell me how it will be calculated as gain from business.
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