Any capital asset held by a person for more than 36 months (i.e., 3 years) immediately preceding the date of its transfer will be treated as a long-term capital asset.
However, in respect of certain assets like
Shares (equity or preference) which are listed on a recognised stock exchange in India.
Units of equity-oriented mutual funds.
Listed securities like debentures and Government securities.
Units of UTI and Zero-Coupon Bonds.
the period of holding to be considered is 12 months instead of 36 months. In the case of unlisted shares in a company, the period of holding to be considered is 24 months instead of 36 months.
Also, with effect from Assessment Year 2018-19, the period of holding of immovable property (being land or building or both), shall be considered to be 24 months instead of 36 months.