Taxation

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15 May 2013 What is a "Capital Asset" and "Transfer" for the purpose of chargeability as capital gains under the Income Tax Act, 1961?

15 May 2013 section 2(14)of I.T ACT EXPLAIN MEANING OF CAPITAL ASSETS AND 6 ITAM ARE IN EXCEPTION WITH DEFINATION WHICH ARE EXCLUDED WHEN CONSIDERING FOR CAPITAL GAIN ASSET.
U/S 2(47) EXPLAIN ABOUT TRANSFER SO REFER THESE.

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15 May 2013 Section 2 (14) and 2(47) are big
sections, so please refer them from the following link, "http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITAC&schT=&csId=496bd5d6-530b-40e2-ab15-b4113212eb68&rdb=sec&yr=a56ea192-3ca8-433a-a515-ed68a062eac7&sec=&sch=&title=Taxmann%20-%20Direct%20Tax%20Laws""

In addition there are two types of capital
assets short term capital assets (holding period of less than 1 year or 3 year) and long term capital assets (other than short term capital assets)

for short term capital asset section 2(42A)




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