in the sale of quoted securities (other than a unit), or a unit of equity-oriented UTI/fund, or a holding for more than 12 months is treated as LTCG. The unquoted share of a company and real estate (land/buildings) must be maintained for more than 24 months to qualify for LTCG. In all other types of capital assets, the sale after 36 months will qualify as LTCG
SHORT-TERM CAPITAL GAINS (STCG)
Gains earned on securities (not listed in units/equity-oriented MF/units of UTI/zero-coupon bonds) held for up to one year, or capital assets held for 24/36 months qualify as STCG
Live plus COMPENSATION PROVISIONS FOR CAPITAL LOSSES ARE MORE RESTRICTIVE
* The loss for the long-term transfer can be offset by the gain on the transfer of any other long-term capital assets in the same year. But, long-term capital loss cannot be compensated with short-term capital gains.
* The loss due to the transfer of a short-term capital asset can be offset by the transfer gain of any other capital asset in the same year
* Any loss of unused capital after absorption in the same year can be carried forward to the next eight years and used under the same conditions as before.
* You must submit your I-T statement to the tax authorities before July 31 to transfer any loss
* There are certain restrictions on compensation for the loss of drag under the new simplified personal income tax regime