What is short term capital gains tax?

[libby]

Can someone explain short term capital gains tax, especially how it differs from long-term gains and why it is usually taxed at a higher rate?

 

[Oscar]

Short-term capital gains tax is the tax on profit earned from selling an asset within a short holding period (usually under one year), taxed at normal income-tax rates or specified slab rates.

 

[Peter]

Short-term capital gains tax is the tax you pay on profit from selling an asset (like shares, property, or mutual funds) that you held for a short period, usually less than 1 year (in India, it varies by asset).