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Convertion of stock in trade into capital asseets

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2013 Please suggest the tax applicability on transfer of stock in trade (Shares) into capital assets (i.e long term Investment) in current year and tax applicability in the year of sale of such investment.
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Rupesh Jain

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Rupesh Jain (Expert)
20 June 2013 IT IS TRANSFER IN A SAME BUISNESS ?
IF YES THEN COST AS YOU BEAR, TAKE THE VALUE.

IF YOU SOLD IT OR TAKE DRWAINGS THEN TAKE MKT VALUE ON TFR DATE AND GIVE TAX AS BUSINESS INCOME
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