The following are the examples of what is not included in the capital asset under section 2(14) of income tax act:

Raw material in business or profession

Motor car, furniture, drawing, painting being used for personal consumption

Ornaments excluding silver and gold, precious stones, platinum etc

Agricultural land which is not situated within the limits of municipality board having population 10000 or more or within distance measured aerially

6% gold bonds 1977 , 7% gold bonds 1980

Special bearer bonds 1991

Gold deposit bonds under gold deposit schemes 1999