Capital gain

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mansi

mansi (Querist)
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26 March 2014 what will be the treatment if depreciable asset is converted into stock in trade

CA Deven

CA Deven (Expert)
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26 March 2014 Capital gain is chargeable in the yr. of sale of stock and not in the yr of conversion.

FMV will be the sale consideration on the date of conversion

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