Tag Archives: conversion of stock in trade

Controlling of shrinkage in Retail – Importance

Controlling of shrinkage in Retail – Importance
What is Inventory Shrinkage?
In today’s competitive retail world, retailers are tasked with more responsibility than ever before. Not only do they have to deal with increased competitive pressures and ever-shrinking margins but also the age old problem of shrinkage.

Tax Treatment of Sale of a capital asset converted into stock-in-trade

Tax Treatment of Sale of a capital asset converted into stock-in-trade
In business there are occasions when a capital asset is converted into stock-in-trade and stock-in-trade is converted into capital asset. There may also be occasions when an asset ceases to be a stock-in-trade. In this context, section 45(2) of the Income-Tax Act, 1961 (the