If a person holds the shares for more than 12 months, any gains earned on those transactions will be considered as long-term capital gains for equities that are listed on a recognized stock exchange such as BSE or NSE.
Finance budget 2018 proposed to withdraw the exemption on long-term capital gain and tax long-term capital gains on equity shares and EOMF at a concessional rate of 10% over and above Rs 1 lakh with respect to transfer effected on or after 1 April 2018. However, gains accrued till 31 January 2018 are grandfathered i.e., in case of transfers up to 31 January 2018, the cost of acquisition of shares or EOMF acquired before 1 February 2018 will be replaced by fair market value as of 31st January 2018.