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
CA Final
★ 3K+
04-Oct-20 16:07
382
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 .