Short term capital gain

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    SUBHASH JAIN New Member

    What is precise term of short term capital gain , means holding period of short term capital assets.
    If anyone bought a plot on dated 04.07.201986 and sold on dated 05.07.1989 , then is it short term or long term,
    whether as per income tax act section 2(42A) "short-term capital asset" means a capital asset held by an assessee for not more than thirty-six months immediately preceding the date of its transfer.
    36 months holding period will define the term of short term or long term. whether act define not more than 36 months , means if anyone hold 36 months it will be treated as short term , what is precise definition.

    Subhash Jain
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