Long Term Capital Assets
Stocks can be considered as Long-term Capital assets when held for more than 12 months by the assessee. If it is helf for 12 months or less than that, then it will be considered as short-term assets. All short-term capital gains are taxable like other income. It means, that they will be added together with the income from other sources to attain a gross taxable income. In India Long-term Capital gains tax has been removed, the short-term capital gains is 10 percent.