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What are the provisions relating to computation of capital gain in case of transfer of asset by way of gift, will, etc.?

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....ome Tax<br>Ans. Capital gain arises if a person transfers a capital asset. section 47 excludes various transactions from the definition of 'transfer'. Thus, transactions covered under section ....

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.... by way of gift, will, etc. subsequently transfers such asset, capital gain will arise in his hands. Special provisions are designed to compute capital gains in the hands of the person receiving the a....

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What are the provisions relating to computation of capital gain in case of transfer of asset by way of gift, will, etc.?