https://www.taxtmi.com/article/detailed?id=7863 Conversion of inventory into a capital asset results in the fair market value on the date of conversion being treated as business income and deemed the full value of consideration; that fair market value is also to be the cost of acquisition for subsequent capital gains computation, and the period of holding for capital gains purposes is reckoned from the date of conversion. en-us Mon, 05 Feb 2018 06:59:50 +0530 Mon, 05 Feb 2018 06:59:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7863 Conversion of inventory into a capital asset results in the fair market value on the date of conversion being treated as business income and deemed the full value of consideration; that fair market value is also to be the cost of acquisition for subsequent capital gains computation, and the period of holding for capital gains purposes is reckoned from the date of conversion. Articles Budget - Tax Proposals Mon, 05 Feb 2018 06:59:50 +0530 https://www.taxtmi.com/article/detailed?id=7863