Capital gains tax in India is charged on the profit made by a person on selling his capital asset. Capital assets are put into two categories "Short term Capital asset " and " Long Term Capital asset".
For Equity shares which are listed in identified stock exchange, Units of equity related mutual funds, Units of UTI and Zero coupon bonds, and Government securities and listed debentures, the period of holding will not be for 36 months but for 12 months.
Transfer means when a person gives up his right on an asset including its selling, exchange, or compulsory acquisition under any law.
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