Is sale of stock and other items are short term capital gain

255 views
User Avatar

14 Points Posted on 11 February 2020
is sale of stock and other items are short term capital gain
0 Reply Share Follow
On 11 February 2020 at 16:40 Report
Replies (4)
Quick Summary
The sale of stock in trade is considered business income, not a capital gain, as stock in trade isn't a capital asset. However, the sale of other items, such as fixed assets, will be subject to tax as a short-term capital gain.

User Avatar

student
178 Points Posted on 11 February 2020
Stock in trade is not a capital asset , hence capital gain doesn't arise.
Sale of stock and other items is income from business.
1 Reply
On 11 February 2020 at 17:46
User Avatar

12244 Points Posted on 11 February 2020
Sale of other items I. e fixed assets will be chargeable to tax as short term capital gain
Reply
On 11 February 2020 at 22:11
User Avatar

14 Points Posted on 11 February 2020
Thanks
Reply
On 11 February 2020 at 22:16
User Avatar

12244 Points Posted on 11 February 2020
You are always welcome
Reply
On 11 February 2020 at 22:24

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. CA Fees deduction for non audit case allowed?
  2. 5th Letter PAN Mismatch with Surname issues still
  3. Criteria to hire an article
  4. Guidence requested for a Finance Professional with
  5. Expert Opinion Required – Form 140 Gross Amo
  6. WRONG TAX DEMAND - formal responses , rectificatio
  7. Foreign remittance
  8. Affordable Residential Flats in Gurgaon
  9. Manufacturing
  10. TAN REGISTRATION ON E-FILLING SITE

More recent discussions | Post

Related Topics :

Loading