For the purpose of calculating short term gains, what date is considered for “selling” shares that were accepted for buyback of Infosys. Is it the date that amt was credited to account or some other date? Pls confirm. @TAXIQ.IN
You have the option of following either settlement date (when amount was credited to your account) or trade date (when buyback was effected) accounting. Both are acceptable. Only rule is to consistently follow the same once you’ve chosen what suits you. The IT Department will accept both methods.
Cheers. Check with your Accountant for details on computation.