What is the minimum holding period for an asset to be considered a long-term capital asset for most securities?

6 months 12 months 18 months 24 months

What is the tax rate for long-term capital gains (LTCG) on shares and equity-oriented mutual funds in India if the gains exceed Rs. 1 lakh in a fiscal year?

5% 10% 15% 20%

Under which section of the Income Tax Act, 1961 can individuals avail of long-term capital gain tax exemption on shares?

Section 54 Section 54F Section 112A Section 10 (38)

What is the concept called where individuals who made decisions based on the previous tax regime are provided with the benefit to trade according to the previous stipulations?

Grandfathering Tax Harvesting Tax Haven Tax Deferral

What is the maximum number of years a long-term capital loss can be carried forward?

2 years 4 years 6 years 8 years