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Conversion of capital asset into stock in trade


Shashank Porwal   06 March 2021

Shashank Porwal

 2 points

| My Other Post
I converted my capital asset (PURCHASED IN FY 11-12) into stock in trade in FY 2014-15 but I kept the value of stock in trade at the book value of asset.Now when I sold that stock in FY 18-19 I need to calculate my CG and PGBP.For CG Its straight a's per section 45(2) but for PGBP If I calculate sale price of stock less stock(which I kept at the book value of asset) that will inflate my profits.Can I claim difference of FMV and book value of asset as other allowable deduction now.



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