Capital Gain

Meaning of Transfer of Capital Asset

Transfer of Capital Assets includes the following the sale, exchange or relinquishment of the asset the extinguishment of any rights therein the compulsory acquisition thereof under any law in a case where the asset is converted by the owner thereof into, or is treated by him as, stock-in-trade of a business carried

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Transactions not regarded as transfer of Capital Assets

The following transactions are not required as transfer in case of capital assets and thus no Capital gain/loss arises. any distribution of capital assetson the total or partial partition of a Hindu undivided family any transfer of a capital asset under a giftor will or an irrevocable trust Provided that this

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Meaning of Long Term and Short Term Capital Asset

Long term capital asset means a capital asset held by an assessee for more than 36 months immediately preceding the date of its transfer. However in the following cases, if Capital asset is held for more than 12 months it shall be treated as long term capital asset Equity or

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Meaning of Capital Asset – Section 2(14)

Capital asset means property of any kind held by an assessee, whether or not connected with his business or profession, but does not include— any stock-in-trade, consumable stores or raw materials held for the purposes of his business or profession personal effects, that is to say, movable property (including wearing apparel

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