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What is a long term asset?

ASSET term
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What is a long term asset?

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If the shares, units of specified mutual fund u/s 10(23D) or any other listed security are held by you for more than 12 months then such shares/units or listed security would be treated as long term assets. To illustrate, if you have purchased and sold shares on the following dates, they would be treated as short term or long term capital asset as below.

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