long term & short term

If shares sell with in the period of less then 1 year then its Short Term 

If more then 1 year it's loan term...................... 

If shares are sold within 1 year then gain arising on the same will be Short term & will be taxable @ Slab applicable, after 1 year through Stock Exchange then it will be Long term & exempt u/s 10(38), if not through Stock Exch then 2 Option exist :

Indexation : then @ 20% otherwise @ 10%.

Regards

Hitesh