Taxation

This query is : Resolved

Dadibattini Narayana (Querist)
Follow

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

CA rohit swami

CA rohit swami (Expert)
Follow

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.

Message likes : 1 times

Guest

Guest (Expert)

15 May 2013 Section 2 (14) and 2(47) are big
sections, so please refer them from the following link, "https://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)

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

damodara rao tedla

Ashok Atluri

Adv Ashish Vishwakarma

S Soundarya

Ashwini Thorat

Subscribe Now

Taxation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA