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Archive: 17 August 2020

Posts in 17 August 2020

Conversion or treatment of a capital asset as stock-in-trade [Section 45(2)]

August 17, 2020 8577 Views 0 comment Print

(1) General Provision [Section 45(1)]:- Any profits or gains arising from the transfer of a capital asset effected in the previous year, shall be chargeable to Income-tax under this head in the previous year in which the transfer took place. (2) Special Case [Section 45(2)]:- A person who is the owner of a capital asset […]

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