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Article Post-Budget Article: Impact on the Automotive Sector
The forward-looking approach adopted in the budget towards this sector has been in alignment with the government’s goals of promoting Aatmanirbhar Bharat and moving firmly towards net-zero carbon emissions by 2070, shares Saket Mehra in this insightful article in Financial Express.
"Conversion of stock-in-trade into capital asset is a prevalent business practice, like conversion of shares held as stock-in-trade to investments. However, the tax laws did not provide a mechanism to tax the income arising from such conversion or the basis for determining the value of the resulting capital asset, which had led to considerable dispute and litigation."
Partner, Grant Thornton India LLP
This article appeared in The Hindu Business Line on 05th September, 2018.
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