Types of capital gains
Anchal Sharma (88 Points)
25 October 2022
what is capital gains.difference between LTCG and STCG(short term capital gain).
4 Replies
Sammidi Mangamma
(39 Points)
Replied 25 October 2022
A) Any kind of property held by you whether connected to your business/profession or not;
b) Any securities held by foreign institutional investor
c) Any unit linked insurance policy issued on or after 1/2/2021
All these assets are said to be capital assets.
Exceptions: foll. assets are not capital assets
- stock in trade (but not securities held by foreign portfolio investor)
- rural agriculture land
- any asset held as personal (but not jewellery,
paintings, drawings, sculptures,work of art, archaeological collections
- special bearer bonds 1991issued by central govt
- 6 1/2 % gold bonds,1977, 7% gold bonds 1980 ,. National defence bonds 1990 issued by central govt
- gold deposit bonds issued under gold deposit scheme 1999
- gold deposit certificates issued under gold monetisation scheme 2015and gold monetisation scheme 2018
if such capital asset transfer then capital gains arises.
if you hold such capital asset for peiod upto 36months preceding date of transfer then it is STCG
if you hold such capital asset for more than 36 month's preceding date of tranfer it is LTCG
Exceptions:
i) securities (other than unit) listed on a recognised stock exchange , unit of equity oriented fund, unit of business trust of india, zero coupon bonds _ upto 12 months STCG
more than 12 months LTCG
ii) unlisted shares, immovable property (being
land or building or both) _ upto 24 months
STCG or. >12 months LTCG
b) Any securities held by foreign institutional investor
c) Any unit linked insurance policy issued on or after 1/2/2021
All these assets are said to be capital assets.
Exceptions: foll. assets are not capital assets
- stock in trade (but not securities held by foreign portfolio investor)
- rural agriculture land
- any asset held as personal (but not jewellery,
paintings, drawings, sculptures,work of art, archaeological collections
- special bearer bonds 1991issued by central govt
- 6 1/2 % gold bonds,1977, 7% gold bonds 1980 ,. National defence bonds 1990 issued by central govt
- gold deposit bonds issued under gold deposit scheme 1999
- gold deposit certificates issued under gold monetisation scheme 2015and gold monetisation scheme 2018
if such capital asset transfer then capital gains arises.
if you hold such capital asset for peiod upto 36months preceding date of transfer then it is STCG
if you hold such capital asset for more than 36 month's preceding date of tranfer it is LTCG
Exceptions:
i) securities (other than unit) listed on a recognised stock exchange , unit of equity oriented fund, unit of business trust of india, zero coupon bonds _ upto 12 months STCG
more than 12 months LTCG
ii) unlisted shares, immovable property (being
land or building or both) _ upto 24 months
STCG or. >12 months LTCG
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177692 Points)
Replied 25 October 2022
veerendar singh
(tax consultant)
(3301 Points)
Replied 25 October 2022
There are a lot of differences
from which angle are you looking at it?
pls specify
from which angle are you looking at it?
pls specify
rama krishnan
(12239 Points)
Replied 26 October 2022
Based on holding period, capital assets are classified in to short term and long term.
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