Capital GAins on Sale of Shares
This query is : Resolved
10 January 2010
Sir,
Suppose I purchased some shares on 29 feb 08 and sold the same on 1 mar 09... what will the gains be classified as- STCG or LTCG? Kindly elaborate with reasons.
Thanx
Suppose I purchased some shares on 29 feb 08 and sold the same on 1 mar 09... what will the gains be classified as- STCG or LTCG? Kindly elaborate with reasons.
Thanx
10 January 2010
The condition for long term capital gains on shares is that the holding period should exceed more than one year. In your case one year of holding ends on 28 02 09 hence your case falls under long term capital gains category.
10 January 2010
Thanks for your reply sir,
But I think we exclude the date of transfer for calculating POH... so the POH in my case is 29-feb-08 to 28-feb-09.... now what will it be classified as??
But I think we exclude the date of transfer for calculating POH... so the POH in my case is 29-feb-08 to 28-feb-09.... now what will it be classified as??
10 January 2010
really sorry for troubling you...i misunderstood the answer...now its clear..
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