Does FIFO apply to foreign stocks also

I have some stocks that were purchased at different points in time. The oldest ones have gained significantly but there are some units purchased between then and now that are in loss.

Can I pick and choose which units to sell for better taxation? Or does the FIFO concept apply to foreign stocks also?

you cannot pick and chose. FIFO is considered for computing capital gains. @Jason_Castelino can answer correctly if i am wrong. He is our friendly neighbor CA.

Hi @preadheoppor

Section 45(2A) of the Income Tax Act specifies that for shares sold in the demat form, the FIFO method has to be applied.

In other words, for computing capital gains chargeable to tax, the cost of acquisition and period of holding of any security shall be determined on the basis of FIFO. This means the investor no longer has the discretion to select the specific lot of the scrip to be sold.

For CG on foreign stocks as well, FIFO method is applicable.

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