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Long term or short term?

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(Querist)
14 March 2014 company acquired a shares listed in stock exchang on 1st january 2013 and sold as on 31 Dec. ..what is the status of gain or loss. short term or long term?
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Nikhil Kaushik online

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Nikhil Kaushik online (Expert)
15 March 2014 should be taxed as short term only. section proviso to 2(42a) says the asset is short term where it is held for not more than 12 months.

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