SHORT-TERM CAPITAL GAINS v/s LONG-TERM CAPITAL GAINS



SHORT-TERM CAPITAL GAMS v/s LONG-TERM CAPITAL GAINS

                   Short-Term Capital Gains (Section 2(42B)}: Gains/losses arising on the transfer of a short-term capital asset are referred to as short-term Capital gains/losses.

                    Long-Term Capital Gains (Section 2(29b)}: Gains/losses arising on the transfer of a long-term capital asset are referred to as long-term capital gains/losses.

                   The period of holding of a capital asset determines whether such capital asset would qualify as a short-term capital asset or a long-term capital asset.

                   Generally, a capital asset is said to be a short-term capital asset if its period of holding does not exceed 36 months (ie 3 years); if the capital asset is held for a period exceeding 36 months, it is said to be a long-term capital asset. However, there are certain exceptions to this general rule. The exceptions have been captured in the table given below (POH = Period of Holding):


Type of Capital Asset

Short-Term.

Long-Term

Listed Shares (Equity/Preference)

POH < 12 Months

POH > 12 Months

Unlisted Shares (Equity/Preference)

POH < 24 Months

POH > 24 Months

Months Listed Securities (Debentures, Bonds, etc)

POH < 12 Months

POH > 12 Months

Units of Unit Trust of India ('UTI') (Listed/Unlisted)

POH < 12 Months

POH > 12 Months

Units of Equity Oriented Mutual Fund (Listed/Unlisted) (in an equity oriented mutual fund, at least 65% of the total funds are

invested in equity shares)

POH < 12 Months

POH > 12 Months

Zero Coupon Bond (Listed/Unlisted)

POH < 12 Months

POH > 12 Months

Immovable Property (Land/Building/Both)

POH < 24 Months

POH > 24 Months

Any Other Capital Asset

POH < 36 Months

POH > 36 Months

 

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