As per the Income-tax Law, gain arising on transfer of capital asset is charged to tax under the head “Capital gains”. What constitutes ‘transfer’ as per Income-tax Law?

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NIRAJ ASHOK DAVE 5 months 1 Answer 50 views 0

Answer ( 1 )

  1. ​Generally, transfer means sale, however, for the purpose of Income-tax Law “Transfer”, in relation to a capital asset, includes:
    i. Sale, exchange or relinquishment of the asset;
    ii. Extinguishment of any rights in relation to a capital asset;

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