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CAPITAL GAIN

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(Querist)
27 November 2009 Capital Asset converted into stock in trade:-

Assessee : Individual

If capital asset is converted into stock in trade, capital gain attracts. Tax is payable in the year in which stock is sold.

Payment for which will be received after two years.
Is Section 54F is open for me?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
28 November 2009 Yes 54 F is open. Limitation starts from the date of conversion.

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