Ltcg on shares
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 February 2012
IS IT COMPULSORY THAT SHARES WOULD BE IN OUR DMAT ACCOUNT FROM LAST 12 MONTHS. PLS CLEAR THE FACTS
16 February 2012
Shares are said to be long term capital assets when they are held for a period of 12 months or more.
There may be a case where the shares were held in physical form and later on converted to demat form.
In such a case, the period of holding shall be taken from the actual date of allotment and not the date of conversion into demat.
So, if the shares have been held in demat form for less than 12 months, but actual period of holding is more than 12 months then they will be long term capital assets.
There may be a case where the shares were held in physical form and later on converted to demat form.
In such a case, the period of holding shall be taken from the actual date of allotment and not the date of conversion into demat.
So, if the shares have been held in demat form for less than 12 months, but actual period of holding is more than 12 months then they will be long term capital assets.
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