22 January 2011
Assessee is having following stock in physical form: 80000 purchased in 1992 @ Rs.100 10000 shares issued as a right shares in 1997 @ Rs.300
Now asseessee want to sell 25000 shares. Can he sell 10000 shares out of right issue and 15000 out of shares purchased in 1992?
In nutshell my question is if securities are in DMAT form it is mandatory to follow FIFO method. Whether same principle applies to shares held in Physical Form or is it possible if i am having different certificate i can sell any shares at any time without following FIFO method
CAclubindia
