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Capital gain tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 March 2014 Can once converted Capital Asset (Land ) into Stock in trade could be converted again into Capital Asset. If Yes then what are the tax implications.
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CA Hardik Bunha

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CA Hardik Bunha (Expert)
01 March 2014 yes, definitely. there is no bar of tax when stock-in-trade converted to capital asset.

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