capital gain basic charges capital assets jewllery agriculture land

2. Sec. 45(1) : Basis of Charge : Any profit or gain arising
from transfer of capital asset shall be charged to tax
under the head capital gain in the same previous year
in which transfer took place.
[Capital Asset + Transfer = Capital Gain / Loss (Accrual
basis)]
Sec. 2(14) : Capital Asset : Capital asset means : a) Any
kind of property held by an assessee, whether or not
connected with business or profession of the assessee.
b) Any securities held by a FII which has invested in
such securities in accordance with the regulations
made under the SEBI Act, 1992.

4. Jewellery :
a) Ornaments made of gold, silver, platinum or any
other precious metal, whether or not worked or
sewn into any wearing apparel.
b) Precious or semi precious stones, whether or not set
in any furniture, utensil (home appliances) or other
article or worked or sewn into any wearing apparel.
Agricultural Land : The land in India, which is not
situated within the limits of municipality or
cantonment board:

5. Property of any kind held by an assessee, whether
connected with his business, profession or not. [Capital
asset may be movable or immovable, tangible or
intangible, fixed or floating. It includes land, building,
plant, machinery, investments, goodwill, leasehold,
jewellery, shares, a manufacturing licence, etc.]

6. Any securities held by a Foreign Institutional Investor
which has invested in such securities in accordance
with the regulations made under SEBI Act, 1992.
Securities as Stock in Trade – transfer – Taxable u/h
PGBP. Securities as an Asset – transfer – Taxable u/h
Capital Gain.
Both are taxable u/h Capital gain in the hands of FIIs
Sec. 2(47) : Transfer of Capital Asset :
Transfer includes –
a) Sale, exchange or relinquishment (give up) of the
asset.
b) The extinguishment of any right.
c) Compulsory acquisition under any law.

7. d. Asset converted into stock in trade.
e) Conversion of business into limited co.
f) Allowing of the possession of any immovable
property
g) Maturity of Zero Coupon Bond
h) Any transaction which effects the enjoyment of any
immovable property