Capital gains tax rate simplified !

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Shares or units of mututal fund held for more than 12 months are long term. If held for less than 12 months, the shares or mututal fund units are short term asset.
In case of all other kinds of asset, one is having long term assets if it is held for more than 36 months. If held for less than 36 months , the asset is calssified as short term capital asset