Question
As per the definition of Transfer of Capital Asset
transfer meansSolution
sale, exchange or relinquishment of the asset; As per Section 2(47) of Income Tax Act, 1961, unless the context otherwise requires, the term “Transfer” in relation to a capital asset, includes- · the sale, exchange or relinquishment of the asset; or · the extinguishment of any rights in relation to a capital asset; or · the compulsory acquisition of asset thereof under any law; or · in a case where the asset is converted by the owner thereof into, or is treated by him as, stock-in-trade of a business carried on by him, such conversion or treatment; or · the maturity or redemption of a zero-coupon bond; or · allowing possession of immovable properties to the buyer in part performance of the contract; · any transaction which has the effect of transferring an (or enabling the enjoyment of) immovable property; or · disposing of or parting with an asset or any interest therein or creating any interest in any asset in any manner whatsoever.
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