Section 2(47) - Definition of Transfer

As per clause 47 of section 2 of the Income Tax Act, 1961 "Transfer" in relation to a capital asset, means

• Sale, exchange or relinquishment of the asset.

• Extinguishment of any right in a capital asset.

• Compulsory acquisition of any capital asset.

• Conversion of capital asset into stock in trade of his business.

• Transaction involving transfer of possession of any immovable property even if title has not been transferred.

• Transaction having an effect of transferring, or enabling the enjoyment of any immovable property. (becoming a member of, or acquiring shares in a co-operative society or AOP)

• Maturity or redemption of a Zero Coupon Bond.