Which of the following organizations brings out the Inclusive Developm...
Definition:- a capital asset is an asset that has a useful life longer than one year and is not intended for sale during the normal course of business. Any property, movable or immovable, that is held by a person is termed as asset. This can include land (Not include rural agriculture land), building, house, securities (stocks, mutual funds, bonds, debentures), jewellery, vehicles, patents, trademarks and machinery.
What is not a capital asset
Option 1 is incorrect: Stock in trade, consumable stores or raw material for business or profession.
Option 2 is incorrect: Personal effects, such as movable property (excluding jewellery, archaeological collections, drawings, paintings, sculptures or work of art), for personal use.
Option 3 is incorrect: Agricultural land, except land situated within or in an area up to 8 km, from a municipality, Municipal Corporation, notified area committee, town committee or a cantonment board with a population of at least 10,000. D. 6.5% gold bonds, national defence gold bonds and special bearer bonds. sDefence gold bonds and special bearer bonds.
Option 4 is incorrect: Deposit in Gold Sovereign Scheme and Gold deposit bonds under the Gold Deposit Scheme 1999.