As per the Income-tax Law, gain arising on transfer of capital asset is charged to tax under the head ?Capital gains?. What constitutes ?transfer? as per Income-tax Law?
By IndianMoney , 11 months ago
IndianMoney
11 months ago
Usually, the transfer of property means sale. However, for the purpose of law 'transfer' mean: 1. Sale or exchange of the asset 2. Compulsory acquisition 3. Conversion of capital asset into stock-in-trade 4. Redemption or maturity of a zero-coupon bond 5 Extinguishment of any rights related to capital assets.
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