Are sale of shares or mutual funds bought before 31 January 2018 and sold between 1 February and 31 March 2018 (but not held for one year) covered by grandfather clause while computing short-term capital gains?
—Rajeev
Listed shares or units of equity-oriented mutual funds that are held for less than 12 months qualify as short-term capital assets. The gain/loss arising from the sale of such assets results in short-term capital gain/loss (STCG/STCL). Such gains are taxable at a special rate of 15% plus applicable cess and surcharge.
