15 March 2021
Could someone guide me on calculating 12 month period for holding shares? If say, shares purchased on 9th March 2020 and sold on 12th March 2021, whether it is long term or short term? I mean it is from the date of purchase 365 days to be calculated or month in which it is purchased? In above example, if it is month of purchase than it becomes long term only in April 2021.
15 March 2021
Period of holding is calculated from the date of purchase (not from the end of the month in which purchase has been made). If these shares are listed, then they shall be considered as a long term capital asset.
16 March 2021
POH for LTCA Securities listed in a recognised stock exchange (other than a unit) - More than 12 months Share of an unlisted company - more than 24 months. Check where your case falls.
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