Hi Qucko team,
I had bought the shares in June’2020 in one demat (X)and transferred the same shares to my another demat (Y) in May 2023. I sold the same in Jan 2024 in Y. In this case , capital gain is considered as STCG or LTCG. Would be great if any link available for such scenario in Income tax rules. Thank you
Shares held for over 12 months are categorized as long-term capital assets, and any profit gained from selling these shares is referred to as long-term gains. In your situation, since you initially bought the shares in June 2020 and sold them in January 2024, the profits generated will be classified as Long-Term Capital Gains (LTCG).
Hope this helps!
Thank you for the response.The report generated in the 2nd broker is showing short term gain as the report logic is considering the transferred date . So I hope this can be reported as long term while filing taxes