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Capital Gains on Conversion of Capital Asset into Stock-In-Trade Section 45(2)

Capital Gains on Conversion of Capital Asset into Stock-In-Trade Section 45(2)   What is Stock-In-Trade? The goods kept in hand by a business for the purposes of its trade. For example, a person dealing in electronic items such as laptop, printers, computers will be his stock-in-trade.   With reference to Section 45(2) At the time … Continue reading “Capital Gains on Conversion of Capital Asset into Stock-In-Trade Section 45(2)”

Capital Gains in Case of Insurance claim on damage of Capital asset – Section 45(1A)

Capital Gains in Case of Insurance claim on damage of Capital asset Section 45(1A)   What is an insurance claim? An insurance claim is a formal request by a policyholder to an insurance company for compensation for a covered loss. The insurance company validates the claim (or denies the claim). If approved, payment to insured … Continue reading “Capital Gains in Case of Insurance claim on damage of Capital asset – Section 45(1A)”

Provisions for Arrears of Rent and Unrealized Rent Received Subsequently Section 25A

Provisions for Arrears of Rent and Unrealized Rent Received Subsequently Section 25A   Most of the people remain tensed these days as in some of the cases the rentals could not be recovered due to tenants lost their jobs or in case of commercial properties businesses are suffering losses due to pandemic. But there is … Continue reading “Provisions for Arrears of Rent and Unrealized Rent Received Subsequently Section 25A”

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