I invested in L&T FMP on 12/08/2013 Rs 149900/- and got it redeemed on 21/07/2015 for Rs. 177381. This Debt Fund was for 709 days. My question is will it be considered short term or long term investment? Will indexation apply or no? Secondly I purchased HDFC RGESS (Equity) for Rs 49900/- on 21/03/2013 and after 3yrs lock-in period it was redeemed on 21/03/2016 for Rs. 68483/- Does this qualify for indexation and gain after indexation will be taxed at 20% or since it is equity it will not be taxed at all or taxed at normal rate? Please clarify.