What is the meaning of capital asset?

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ations made under the SEBI Act, 1992. However, the following items are excluded from the definition of capital asset : Any stock-in-trade, consumable stores, or raw materials held by a person for the purpose of his business or profession. E.g., Motor car for a motor car dealer or gold for a jewellery merchant, are their stock-in-trade and, hence, they are not capital assets fo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... lation of such area is more than 10,000 but not exceeding 1 lakh; * not being more than 6 KMs , if population of such area is more than 1 lakh but not exceeding 10 lakhs; or * not being more than 8 KMs , if population of such area is more than 10 lakhs. Population is to be considered according to the figures of last preceding census of which relevant figures have been published before the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X