What is the difference between short-term capital gains and long-term capital gains in Indian income tax?

In Indian income tax, short-term capital gains (STCG) refer to profits earned from the sale of assets held for less than 36 months (for most assets), while long-term capital gains (LTCG) refer to profits earned from the sale of assets held for more than 36 months. The tax treatment differs for STCG and LTCG. STCG is taxed at the applicable slab rates for individuals, while LTCG is taxed at a concessional rate with indexation benefit for certain assets.