Short or long term capital gain from stock market?

I think generally FIFO method is used for calculating Capital Gains, so obviously, the shares u purchased first are to be sold first, in that case the shares held for more than 1 year are sold, hence the capital gains acrruing on the same is Long Term Capital Gains and is exempt. BUT I DONT THINK U HAVE A CHOICE, IT MUST BE ON FIRST IN FIRST OUT BASIS..pl confirm with other posts..

You are not 'free' to use any logic.

You have to use 'First In First Out'

If you have sold X shares, X number of shares which were bought first will be considered sold and so on. Hence you can calculate the time-frame accordingly.

The CBTD has issued a circular no 704 dated 28.04.95 and clarify that when the shares has been purshaed in different lots at different time then FIFO method to be adopted to reckon the period of Holding.. i think so now you got your answer..