I could see here that long term capital gains tax is applied on overall an year and not on a scrip. So when is this tax applied? - Is it when the amount is transferred from trading account to our bank account? So in the above context not on a scrip means , please let me know if my below understanding is correct?
Buy a stock ‘A’ and hold it for 3 months and sell it. 2. Buy a stock ‘B’ with amount from stock ‘A’ , hold it for 9 months and sell it.
Transfer the amount to bank account, and if the net profit from these two stock is less than 1 lakh , am I applicable for any long term capital gain tax or short term capital gains tax on each stock or the profit is tax free