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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..... nder section 47 are not deemed as 'transfer' and, hence, these transactions will not give rise to any capital gain. Transfer of capital asset by way of gift, will, etc., are few major transactions covered in section 47 . Thus, if a person gifts his capital asset to any other person, then no capital gain will arise in the hands of the person making the gift (*). If the person receivi .....

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