Is today the last day to sell for it to count as this financial year?

[tallerballer]

Hey since Friday is a holiday, is today the last day to sell for something to count as happening in this financial year (FY 23-24)?

If we sell today, it’s settled only tomorrow right.
@Quicko

[siva]

@tallerballer

If we sell today, it’s settled only tomorrow right.

Settlement date should not matter, only trade date so even if you sell tomorrow it comes under current financial year.

[tallerballer]

But I will get the money (income) only in next financial year right?

[Prayag]

Refer to this old thread -

Long Term Stock: no. of days starting criterion

As per Income Tax Department Circular: No. 704, dated 28-4-1995, the date of purchase of securities is used - 22. Instructions regarding determination of the ‘date of transfer’ and holding period for purposes of capital gains qua transactions in securities 1. Under the provisions of clause (42A) of section 2 of the Income-tax Act, 1961, the shares held in a company or any other security listed in a recognised stock exchange in India or units of the Unit Trust of India or units of a mutual fu…

The date of purchase/sale in the broker’s contract note is used for determining the holding period for tax purposes and not the date of dematerialisation/settlement

the date of broker’s note that should be treated as the date of transfer in cases of sale transactions of securities provided such transactions are fol­lowed up by delivery of shares

[tallerballer]

Thank you for linking to the ITD circular Prayag!