Longterm or short-term?
This query is : Resolved
Irfan Hassan
(Querist)
24 November 2013
Capital Asset held exactly for 36 months... is it longterm or shortterm capital Asset?
CA PARAS BAFNA
(Expert)
24 November 2013
As per Section 2(42A) capital asset held by the assessee for not more than 36 months is
a short term capital asset (other than shares or units etc).
.
So in such a case where the asset is not held for more than 36 months is treated as short term capital asset (STCA).
.
The reply is STCA.
.
a short term capital asset (other than shares or units etc).
.
So in such a case where the asset is not held for more than 36 months is treated as short term capital asset (STCA).
.
The reply is STCA.
.
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