Editing Capital asset (section)

==Excluded from the definition==
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# Any stocks in trade, consumable stores, or raw materials held for the purpose of business or profession have been excluded from the definition of capital assets.
# Any movable property (excluding jewellery made out of gold, silver, precious stones, and drawing, paintings, sculptures, archeological collections, etc.) used for personal use by the assessee or any member (dependent) of assessee's family is not treated as capital assets. ''For example'', wearing apparel, furniture, car or scooter, TV, refrigerator, musical instruments, generator, etc. is the examples of personal effects. (see IRS publication 544 chapter 2.)
# Agricultural land situated in rural area.
# 6.5% gold bonds or 7% gold bonds 1980, national defense gold bond 1980, issued by the central government.
# Special bearer bonds, 1991
# Gold deposit bonds issued under gold deposit scheme, 1999.
# Security deposits issued under gold monetisation scheme 2015