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Capital Gains

Sir,What is the gross consideration taken when assess converts capital asset into stock and when will be chargebility under sec 45 (2).


M.V. Naresh

M.V. Naresh

CA Inter

2K+

04-Oct-20 16:07

23

Answers (1)

Gross Consideration is FMV on the date of conversion . Year of chargability is on which year that stock gets sold . Excess from gross consideration is taxed under pgbp .


Srini Sriram

Srini Sriram

CA Inter

3K+

04-Oct-20 19:37