Tag Archives: Section 2(14)

Capital Asset defination under Income Tax Act (India) -section 2(14)

By | October 21, 2016

Capital Asset under Income Tax Act –  Section 2(14) Definition of capital asset in section 2(14) of the Act “capital asset” means— (a) property of any kind held by an assessee, whether or not connected with his business or profession; (b) any securities held by a Foreign Institutional Investor which has invested in such securities… Read More »

Profit from sale of agricultural land is not book profit in Section 115JB

By | September 8, 2015

Q Whether Profit from sale of agricultural land would be included for purpose of computing book profit under section 115JB ? Profit from sale of agricultural land would not be included for purpose of computing book profit under section 115JB Profit arising on sale of agricultural land, which does not fall in the category of “Capital Asset”… Read More »