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of <h1>Understanding 'Transfer' of Capital Assets Under Section 2(47) of Income Tax Act: Sales, Exchanges, Acquisitions & More</h1> Transfer of a capital asset under Section 2(47) of the Income Tax Act includes various actions such as sale, exchange, relinquishment, or extinguishment of rights. It also covers compulsory acquisition, conversion into stock-in-trade, and transactions allowing possession of immovable property. Additionally, it involves redemption or maturity of zero coupon bonds and actions under Section 53A of the Transfer of Property Act, 1882. The definition of 'transfer' extends to any disposal or parting with an asset, either directly or indirectly. Reducing share capital or redeeming preference shares also constitutes a transfer, resulting in capital gains.
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