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Meaning of Transfer of Capital Asset
Transfer of Capital Assets includes the following
the sale, exchange or relinquishment of the asset
the extinguishment of any rights therein
the compulsory acquisition thereof under any law
in a case where the asset is converted by the owner thereof into, or is treated by him as, stock-in-trade of a business carried on by him, such conversion or treatment
the maturity or redemption of a zero coupon bond
any transaction involving the allowing of the possession of any immovable property to be taken or retained in part performance of a contract of the nature referred to in section 53A36of the Transfer of Property Act, 1882
any transaction (whether by way of becoming a member of, or acquiring shares in, a co-operative society, company or other association of persons or by way of any agreement or any arrangement or in any other manner whatsoever) which has the effect of transferring, or enabling the enjoyment of, any immovable property.
Roll over in case of Fixed Maturity Plan (FMP) of mutual funds will not amount of transfer if the scheme remains the same. Therefore no capital gain arises at time of roll over. However capital gains will arise at time of redemption of units or opting out of scheme as the case may be. Circular no. 6/2015
Transactions which are not regarded as transfer of capital assets.