banner_ad

Taxation of income

Others 189 views 4 replies
User Avatar

512 Points Posted on 14 October 2018
I sold stock which was earlier my capital asset. will it be taxed under PGBP or capital gain? what deduction can I claim
0 Reply Share Follow
On 14 October 2018 at 15:12 Report
Replies (4)
User Avatar

SEO Sai Gr. Hosp.
211715 Points Posted on 14 October 2018

Did you declare capital gain at the time of converting it to stock?

Reply
On 14 October 2018 at 17:53
User Avatar

512 Points Posted on 14 October 2018
no.. whenever we convert cap asset to stock...it will be taxed only when it is successfully sold...i wanted to know how the income tax officer will know that my stock was previously my capital asset...so can it be shown under pgbp
Reply
On 14 October 2018 at 18:04
User Avatar

SEO Sai Gr. Hosp.
211715 Points Posted on 14 October 2018

The capital gain tax liability arises when the asset is converted to stocks. & the CG tax is required to be paid when the stock is sold.....

Reply
On 14 October 2018 at 18:11
User Avatar

Student CA Final
431 Points Posted on 14 October 2018
at the time of purchase of such asset if it is stock u would have shown in ur trading & p and l account along with balance sheet... in that way dept may know it is stock but not capital asset
Reply
On 14 October 2018 at 20:41


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topic

More recent discussions | Post

Related Topics
Loading

Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details