If asses is converted into stock in trade, then is there any capital gain exemption is available for such convertion..??
If asses is converted into stock in trade, then is there any capital gain exemption is available for such convertion..??
capital gain on conversion of capital asset into stock-in-trade shall be chargeable to tax in previous year in which that stock-in-trade is sold or otherwise transferred by the assessee. The indexation of cost of acquisition/improvement is done upto the date of conversion.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View Details
CAclubindia
