Capital asset definition clarifies inclusion of property and FII-held securities and lists specified exclusions and examples. The capital asset definition encompasses any property held by an assessee, including securities held by Foreign Institutional Investors acquired under ... Summary
Capital asset definition clarifies inclusion of property and FII-held securities and lists specified exclusions and examples.
The capital asset definition encompasses any property held by an assessee, including securities held by Foreign Institutional Investors acquired under applicable regulations, and excludes stock-in-trade, consumables and raw materials for business, personal effects (except specified art and jewellery), certain agricultural land subject to municipal and distance criteria, and specified government bonds and gold-related instruments.
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