Capital Gains

Direct Taxation

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

M Naresh

CA Final

★ 3K+

04-Oct-20 16:07

746

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

CA Final

★ 4K+

04-Oct-20 19:37