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Rationalisation of provision relating to conversion of stock-in-trade into Capital Asset

Budget - Dated:- 5-2-2018 - Section 45 of the Act, inter alia, provides that capital gains arising from a conversion of capital asset into stock-in-trade shall be chargeable to tax. However, in cases where the stock in trade is converted into, or tre .....

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he provisions of - (i) section 28 so as to provide that any profit or gains arising from conversion of inventory into capital asset or its treatment as capital asset shall be charged to tax as business income. It is also proposed to provide that the .....

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