Transfer under income tax law includes sale, exchange, conversion and other acts triggering capital gains taxation. The document explains that transfer for capital gains taxation is a broad concept covering sale, exchange, relinquishment, extinguishment of rights, compulsory acquisition, conversion into stock in trade, and maturity or redemption of zero coupon bonds, and also includes permitting possession in part performance and any transaction effecting disposal, enjoyment, creation or alteration of any interest in an asset.