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of <h1>Capital Assets Include FII Securities Under SEBI; Exclude Stock-in-Trade, Personal Effects, and Specific Government Bonds.</h1> A capital asset includes any property held by a taxpayer, regardless of its connection to their business or profession, and securities held by a Foreign Institutional Investor (FII) under SEBI regulations. Exclusions from capital assets are stock-in-trade, consumables, personal effects (excluding certain items like jewelry and art), specific agricultural land, certain government-issued bonds, and certificates under the Gold Monetisation Scheme. The definition emphasizes that capital assets may or may not be business-related, and securities held by FIIs are always considered capital assets, not stock-in-trade.
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