STCG/LTCG On sale pf Shares? -Urgent

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2011 My father purchased shares of few companies around 1978-79.

Just opened a D-mat account.

Kindly explain the procedure for transferring shares in to D-mat account.

If shares are sold within a month after transferring in to D-mat,what will be the nature of Capital Gain?

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
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05 June 2011 Contact your Dmat a/c agency. They will give a form for dematerialisation of securities which will have to be filled by you and submitted to the agency with physical shares. Your shares will be dematerialised in few days.

Date of dmat does not affect the status of long term holding of shares. In your case sale of shares within one month of transfer to dmat a/c will also result in long term capital gain.

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