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Capital Gain

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(Querist)
10 March 2010 Respected Members..
Plz clearify my point regarding Capital Gain on shares.

It goes like this..
Q1-An assesee is having 2 demat account with 2 diff parties ie. STCI and SMC, shares purchased by STCI are sold normally thru SMC and after the sales is made a DIS(delivery instrument slip) is issued by STCI. My question is whthr the capital gain arising out of such sale is to be accounted in STCI or in SMC.

Q-2 Taking up the same question.. what we have to do in the following situation.
STCI
*date 15-04-06 1200 shares @ 10
SMC
15-06-2008 500 shares @ 11
*trf from STCI on 15-08-2008 700 shares
*sold thru SMC 700 shares @ 12.50 on 15-08-2008

Now

whthr 700 @ 1.50=1050.00 will b long term cap gain from STCI

or will it be
500*1.50=750.00 (short term cap gain from SMC)
200*2.50=500.00 (Long term cap gain from STCI)

Kindly provide relevent section, circular, case law for the above situation

Plz do refer circular no 768


Thanks in Advance
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CA. Anoop Gadia

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CA. Anoop Gadia (Expert)
15 July 2010 500*1.50=750.00 (short term cap gain from SMC)
200*2.50=500.00 (Long term cap gain from STCI)


this is right.
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