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Meaning of Capital Asset - Sec. 2(14)

Income Tax - Capital Gains - 02 - SEC - 2(14): MEANING OF CAPITAL ASSET Capital asset means- Property of any kind held by an assessee, whether or not connected with his business or profession; Any securities held by a Foreign Institutional Investor w .....

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movable property (including wearing apparel and furniture) held for personal use by the assessee or any member of his family dependent on him, but excludes- Jewellery Archaeological collections Drawings Paintings Sculptures or Any work of art (Hence .....

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rural area in India: Rural area for the above purpose is as follows - Any area which is outside the jurisdiction of a municipality or cantonment board having a population of 10,000 or more and also which does not fall within distance (to be measured .....

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