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Capital Gain is not charged on All types of Assets
It is applicable only on Certain assets called Capital Assets
Capital Assets include All assets except
- Stock of Business*
- Items of Personal nature which are movable like Personal Car/AC/Fridge etc
- Agricultural land in rural area
However following are Capital Assets
- Stock in trade of Foreign Instituitional investors (Foreign Companies who invest in Indian Stock Market)
- Immoveable Property like House/Plot
- Jewellery(Ornaments it made of gold silver, or precious stones) .
- Agricultural land in Urban Area
- Drawings, paintings, sculptures or any work of art.
Example :-
| State whether Capital Gain Applicable on following | Yes / No |
| Sale of Jewellery by Housewife | |
| Sale of Jewellery by Jewellery Store | |
| Sale of Car by a Salaried Person | |
| Sale of Car used in Business | |
| Sale of Car by Car Showroom | |
| Sale of Personal Property | |
| Sale of Personal Painting | |
| Sale of Personal TV | |
| Sale of Personal Shares | |
| State whether Capital Gain Applicable on following | Yes / No |
| Sale of Jewellery by Housewife | Yes |
| Sale of Jewellery by Jewellery Store | No |
| Sale of Car by a Salaried Person | No |
| Sale of Car used in Business | Yes |
| Sale of Car by Car Showroom | No |
| Sale of Personal Property | Yes |
| Sale of Personal Painting | Yes |
| Sale of Personal TV | No |
| Sale of Personal Shares | Yes |
