Tax Implications of Capital Asset Conversion to Stock u/s 45(2) of Income Tax Act Explained.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition u/s 45(2) - conversion of capital asset into stock in trade - The computation of capital account would be based on the consideration being fair market price as on the date of conversion being in the year 2001 though the same will be assessed to tax in the year under consideration when the assessee has finally sold the stock in trade.....