They can be either

1.Short Term Capital Asset

(Assets held for upto 36 months  before the date of trasnfer are called STCA)

2.Long term Capital Asset

(Assets held for more than   36 months are called LTCA)

 

Note:-

For Following Assets, period of holding is 12 months instead of 36 months

  • Security listed on Stock Exchange
  • Units of UTI
  • ZCB (Zero Coupon Bonds)
  • Equity Oriented Funds

 

For Following Assets, period of holding is 12 months instead of 24 months

  • Unlisted Shares (i.e. shares not registered on any stock exchange)  

Hence Period for Unlisted Shares reduced to 24 months from 36 months to be classified as LTCA

 

Amendment

 

EARLIER

NOW

(Assets held for   more than   36 months   are called Long Term Capital Assets

And

Long Term Capital Gain is charged on it

Assets held for   more than   36 months   are called Long Term Capital Assets

And

Long Term Capital Gain is charged on it

Exception

For Following Assets, period of holding is 12 months instead of 36 months

  • Security listed on Stock Exchange
  • Units of UTI
  • ZCB (Zero Coupon Bonds)
  • Equity Oriented Funds

 

Note:-

Unlisted Shares carried period of 36 Months to be classified as LTCA

Exception

For Following Assets, period of holding is 12 months instead of 36 months

  • Security listed on Stock Exchange
  • Units of UTI
  • ZCB (Zero Coupon Bonds)
  • Equity Oriented Funds

For Following Assets, period of holding is 12 months instead of 24 months

·         Unlisted Shares (i.e. shares not registered on any stock exchange)

 

Hence Period for Unlisted Shares reduced to 24 months from 36 months to be classified as LTCA

 

  1. Income Tax
  2. Income from Capital Gains
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides GST Training in Delhi. Register now.