coversion into stock
This query is : Resolved
03 February 2011
hi,
will the conversion of investment into stock attract tax?
also tell me the procedure for such conversion?
will the conversion of investment into stock attract tax?
also tell me the procedure for such conversion?
04 February 2011
yes conversion of invetment in to stock in trade will attract tax when then stock will be sold. gain will be calculted by difference between investment carrying value and value on conversion date.
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