Long/Short term Capital gains information

#1
I was holding shares since 2007 in demat account A and recently transferred those shares to demat account B (both demat accounts are on my name). Reason for opening demat account B was I did not had online trading account for demat Account A.

Now if I sell shares from demat account B, will that be still considered as Long term capital gain and I do not pay anyt tax OR would that be considered as short term capital gain as I was holding these shares in new demat account only from March 2013.

Thanks in advance.
 

Mr.G

Well-Known Member
#2
I was holding shares since 2007 in demat account A and recently transferred those shares to demat account B (both demat accounts are on my name). Reason for opening demat account B was I did not had online trading account for demat Account A.

Now if I sell shares from demat account B, will that be still considered as Long term capital gain and I do not pay anyt tax OR would that be considered as short term capital gain as I was holding these shares in new demat account only from March 2013.

Thanks in advance.
It will be non taxable as the shares have been on your person all the time. If you hold an apple with your right hand from your left hand that does not change it into an orange.
 

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