capital gain u/s 45 (2)

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rakesh (Querist)
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08 January 2017 if capital asset transfer in to stock in trade in 2010, then capital gain arise in 2010 but asset sold in 2015. In this case we have to pay capital gain tax in 2015. My question is whether we have to pay interest on capital gain tax from 2010 to 2015?

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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09 January 2017 when a capital asset is converted into stock in trade, such conversion is treated as transfer within the meaning of section 45 as on the date of conversion but capital gains arises only in the year in which such converted asset is sold. No interest is therefore payable.

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