There are others better qualified than I to comment, & they probably will in due course, but the forend on your rifle is definitely a late-ish Indian replacement. It has the No4 Mk1 style keeper plate at the back end. If the wood was all correct to the rifle the stripe at the front end would go around the front hand guard as well, I suspect. One has to err on the side of caution, & if there is any doubt, get the rifle checked over by a competent gunsmith, but my money is on replacement wood fitted after the event. The red stripe is, I think, Indian, not BritishWW2. IIRC in Home Guard use a red stripe around the woodwork was used to denote a rifle not in the standard service calibre (ie not .303) - a great many US M'17 rifles were so marked. In fact, a pal of mine has just bought one!
---------- Post added at 10:29 AM ---------- Previous post was at 10:26 AM ----------
Whoops! Sorry, just noticed this was a 'double post'!