Scribd
Upload
83 views3 pages

Rough Draft For Partial Fulfilment of Taxation Law On "Capital Asset"

This document is a rough draft submitted by a law student for a project on the topic of "capital asset" as defined under the Indian Income Tax Act of 1961. It introduces the definition of capital asset, exclusions from this definition, and the student's research methodology and chapter outline for the project. The student aims to understand the meaning, types, and application of capital asset through doctrinal research using primary sources like the Income Tax Act and secondary sources like books, websites, journals. The draft provides context for the student's research while outlining the key elements that will be covered in the project.

Uploaded by

AdhishPrasad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
83 views3 pages

Rough Draft For Partial Fulfilment of Taxation Law On "Capital Asset"

This document is a rough draft submitted by a law student for a project on the topic of "capital asset" as defined under the Indian Income Tax Act of 1961. It introduces the definition of capital asset, exclusions from this definition, and the student's research methodology and chapter outline for the project. The student aims to understand the meaning, types, and application of capital asset through doctrinal research using primary sources like the Income Tax Act and secondary sources like books, websites, journals. The draft provides context for the student's research while outlining the key elements that will be covered in the project.

Uploaded by

AdhishPrasad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

Rough Draft for partial fulfilment of Taxation Law

On
CAPITAL ASSET

Submitted To:Dr. G.P. Pandey


Faculty of Taxation Law

Submitted By: Adhish Prasad


Roll No. 904
4th Year B.A., LL.B. (Hons)

INTRODUCTION

Capital Asset is defined under Sec 2(14) of Income Tax Act,1961 to include:
a) Any kind of property held by an assessee, whether or not connected with business or
profession of the assessee.
b) Any securities held by a FII which has invested in such securities in accordance with the
regulations made under the SEBI Act, 1992.
However, the term capital asset shall exclude the following:
a) Stock-in-trade, consumable stores, raw materials held for the purpose of business or
profession
b) Movable property held for personal use of taxpayer or for any member of his family
dependent upon him.
However, jewellery, costly stones, and ornaments made of silver, gold, platinum or any other
precious metal, archaeological collections, drawings, paintings, sculptures or any work of art
shall be considered as capital asset even if used for personal purposes
c) Specified Gold Bonds and Special Bearer Bonds
d) Agricultural Land in India, not being a land situated:
a. Within jurisdiction of municipality, notified area committee, town area committee,
cantonment board and which has a population not less than 10,000
b. Within range of following distance measured aerially from the local limits of any
municipality or cantonment board:
i. not being more than 2 KMs, if population of such area is more than 10,000 but not
exceeding 1lakh
ii. not being more than 6 KMs , if population of such area is more than 1 lakh but not
exceeding10 lakhs or
iii. not being more than 8 KMs , if population of such area is more than 10 lakhs.
e) Deposit certificates issued under the Gold Monetisation Scheme, 2015

AIMS & OBJECTIVEResearcher, by doing this project shall find out the meaning, types and application of the
Capital Asset.

HYPOTHESIS-

RESEARCH METHODOLOGYResearcher shall emphasize and use the doctrinal method to prepare this project topic.

SOURCES OF DATAPRIMARY SOURCES:1. Income Tax Act, 1961

SECONDARY SOURCES:1. Books on Taxation Law


2. Websites
3. Journal
4. Magazines

TENTATIVE CHAPTERISATION1)
2)
3)
4)
5)
6)

Definition (Under Sec 2(14) of Income Tax Act, 1961)


Amendment in the definition of Capital Asset
Types of Capital Asset
Period of holding Capital Asset in different situation
Transfer of Capital Asset
Conclusion.

BIBLIOGRAPHY
BOOKS: -

WEBSITES:-

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy