capital gain

Any kind of property (movable, immovable, tangible, intangible) held by an assessee, whether or not connected with his business or profession, is nothing but a "Capital Asset".

The following assets are excluded from the definition of capital Asset:-

• Stock-in-trade, consumable stores, raw materials held for the purpose of business/profession
• Items of personal effects, that is, personal use excluding jewellery, costly stones, silver, and gold
• Agricultural land in India
• Specified Gold Bonds and special Bearer Bonds
• Gold Deposit Bonds

Hope ur doubt will be cleared.

Keep smiling....

regards,

ratan