Consider the following statements regarding Short Term Capital Gains Tax in India:
1. It refers to a tax on the gain that arises from the sale of an asset after holding it less than sixty months.
2. Securities Transaction Tax (STT) is an indirect tax levied on sale and purchase of equities.
Which of the statements given above is/are not correct?
1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2