STCG stands for Short Term Capital Gains, which are gains arising from the sale of an asset held for less than 24 months.

LTCG stands for Long Term Capital Gains, which are gains arising from the sale of an asset held for more than 24 months.

The rate of STCG tax for equity shares and equity-oriented mutual funds is 15%.

The rate of LTCG tax for equity shares and equity-oriented mutual funds is 10%.

The rate of STCG tax for debt-oriented mutual funds is 20%.

The rate of LTCG tax for debt-oriented mutual funds is 10%.

The holding period for STCG is less than 24 months.

The holding period for LTCG is more than 24 months.

Net asset value is not a method of computing capital gains.

The base year for indexation of cost of acquisition is 1981-82.

The indexation factor for the year 2022-23 is 376.

Furniture is not a capital asset.

Shares, bonds, and debentures are all capital assets.

The due date for filing capital gains tax return is July 31.

The penalty for late filing of capital gains tax return is 1% per month.