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Short Term Capital Gains Tax is the tax charged on profits derived from the sale of an asset held for a government-defined short period of time. The short-term time varies by item; for example, for immovable property such as land, buildings, and house property, the holding period was shortened in FY 2017-18 from 36 months or less to 24 months or less in order to be considered "short term."
In simple words, Short term capital gain is any capital gain/profit that an individual receives from the sale of short-term capital assets. This includes any gain from the sale of depreciable assets.
Note - These gains are applicable till 31st march 2022