https://www.taxtmi.com/manuals?id=939 Capital gains arise on conversion of a capital asset into stock-in-trade, including cases where the asset is treated as stock-in-trade without formal conversion. The fair market value on the date of conversion is deemed to be the consideration, and the gain is taxed when the stock-in-trade is sold or otherwise transferred. Under the earlier regime, capital gain is computed with reference to fair market value on conversion, while business income is computed on the sale price of the stock-in-trade. en-us Tue, 25 Aug 2015 14:48:00 +0530 Tue, 02 Jun 2026 18:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=939 Capital gains arise on conversion of a capital asset into stock-in-trade, including cases where the asset is treated as stock-in-trade without formal conversion. The fair market value on the date of conversion is deemed to be the consideration, and the gain is taxed when the stock-in-trade is sold or otherwise transferred. Under the earlier regime, capital gain is computed with reference to fair market value on conversion, while business income is computed on the sale price of the stock-in-trade. Manuals Income Tax Tue, 25 Aug 2015 14:48:00 +0530 https://www.taxtmi.com/manuals?id=939