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Calculation of Long Term Capital Gains

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25 June 2010 Please advise whether the long term capital gains is to be computed on the basis of date of allotment or date fo credit of shares in the demat account.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
25 June 2010 Date of credit in the demat account should be considered for the purpose of counting period of holding and cost of acquisition,. For details pl refer section 45(2A) of the Income tax Act,1961 and CBDT Circular 768 dated June 24,1998.
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