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    What are capital gains and what is a capital asset?

    Profits or gains arising from the transfer of a capital asset during the previous year are taxable as “Capital Gains” under section 45(1) of the Income Tax Act. The taxability of capital gains is in the year of transfer of the capital asset.
    December 08, 2011 / 11:33 IST

    Capital Gains

    Profits or gains arising from the transfer of a capital asset during the previous year are taxable as

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