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.
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)