Hi,
I have a small query regarding step by step accumulated share comes in short or long term.
If a share A has been bought in 2009, and bought some more share now in OCT 2011.
Now how it will be considered if it is been sold in next 12 months?
Thanks,
Sakitram
FIFO method would be followed i.e. shares bought in 2009 will be deemed to be sold first
same message put in the reply with more formatting
Here is the transaction details.
| Share | Units | Date/time | Transaction |
| ABC | 100 | 01/01/2009 | BUY |
| ABC | 100 | 01/10/2011 | BUY |
| ABC | 150 | 01/11/2011 | SELL |
For this scenario, the tax charges will be as follows as per the above comment.
First 100 units - No tax (STT paid + transaction done only through stock exchange)
Next 50 unis - 15% tax (STCG).
Am I right?
yes you are right !
Thanks Ashish.
CAclubindia
