FIFO METHOD IN CASE OF EQUITY SHARES -- SALE/PURCHASE

This query is : Resolved 

29 July 2024 an investor has three demat accounts with different brokers
in demat acc no 3 he buys 100 shares on 1.7.2024
in demat acc no 1 he buys 100 shares on 15.7.2024
in demat acc no 2 he buys 100 shares on 31.7.2024
same company investment
now if he sells 100 shares from demat account 2 on 10.8.2024
then sells 100 shares from demat acc no 1 on 16.8.2024

please guide how will the profit be calculated
will it be demat account wise or FIFO method
as per income tax rules
thanks

29 July 2024 It's demat account wise as it's identified sale.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries