Long-term capital asset for listed equity needs holding more than:
A24 months
B12 months
C36 months
D6 months
Answer & Solution
Correct answer: B. 12 months
1. Section 2(42A) defines short/long term based on holding period.
2. Listed equity, units of equity MFs, UTI/zero coupon bonds: > 12 months for long-term.
3. Unlisted shares: 24 months; immovable property: 24 months; other assets: 36 months.
_Source: ICAI BoS CA Final Paper 7, Ch 4 "Capital Gains"_
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