Menu
Gold Stock in business but now its converted into Personal Assets
I am having Gold stock in my Business but now I wanted to convert that Gold stock into my personal assets, So As per Income Tax Act, 1961 which Section is applicable for the above query.
Replies (2)
45(2) conversion
section 45(2) is applicable capital gain is taxable in the year in which such stock- in -trade is sold or otherwise transferred by him, but indexation benefit is available upto the year of conversation if it is long term capital asset
Recent Topic
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
Related Topics
CAclubindia
