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coversion into stock

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(Querist)
03 February 2011 hi,
will the conversion of investment into stock attract tax?
also tell me the procedure for such conversion?
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CA Chandresh Agrawal

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CA Chandresh Agrawal (Expert)
04 February 2011 yes conversion of invetment in to stock in trade will attract tax when then stock will be sold. gain will be calculted by difference between investment carrying value and value on conversion date.

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