Hi,
Long-term capital assets are those that were held for more than 36 months, immediately preceding the date of transfer.
For some assets, such as shares (equity or preference) listed on a recognized stock exchange in India, units of equity-oriented mutual funds, listed securities like debentures and government securities, units of UTI, and zero-coupon bonds, the holding period is 12 months instead of 36 months.
Instead of 36 months, a shorter holding period of 24 months must be taken into account when buying unlisted shares of a corporation.
I hope this helps:)
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What is meant by long-term capital asset?
Niranjan reddy
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2023-06-26T09:19:08+00:00 2023-06-26T16:48:37+00:00Comment
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