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Pgbp

Direct Taxation

When the pgbp income will arise? When the business income arises In transfer of stock in trade to capital asset then how pgbp income arises?

Kanaga Mani

CA Inter

★ 3K+

30-May-20 22:25

344

Answers (4)

Because stock in trade is held for business and the asset is now not being used for business. It is more like a deemed sale.

CA Suraj Lakhotia

Admin

31-May-20 09:27

TQ sir

Thread Starter

Kanaga Mani

CA Inter

★ 3K+

31-May-20 09:29

Then for single asset there is doubt taxation??

Thread Starter

Kanaga Mani

CA Inter

★ 3K+

31-May-20 13:16

Thread Starter

Kanaga Mani

Then for single asset there is doubt taxation??

No double taxation. When the asset is taxed next time, the cost base will taken at transfer price so that tax is on additional portion of increase in value only

Sriram Somayajula

Admin

31-May-20 18:05

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