I bought shares 6 months ago and sold for profit on March 30th, 2015. The settlement date will be in April 2015.
For taxation purpose, will it be considered in FY2014-15 or FY2015-16?
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Shares sold on mar-30 - profit in current or next year?
Replies (1)
Capital gains is on accrual basis. So the short term capital gains would probably be taxed in the year of sale. Method of accounting is not of consequence.
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