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capitalgains

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(Querist)
05 December 2007 under the head capital gains, what are the tax implications if stock in trade is converted into capital asset. Example a land dealer, if he wants to convert the stock in trade ie land, into his personal asset for his own use, what are the documentary evidence he has to make?
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kartik_somu

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kartik_somu (Expert)
19 March 2008 He has to prepare an agreement and register the land in his name.
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