Sell stocks on last trading day of FY ? (loss harvesting)

[raghav.95]

Since tomorrow is last trading day of this FY , if I sell stocks, will I get benefit of loss harvesting , since they will exit my demat on 1st April.

Also, if I invest in stocks on last trading day of FY (tomorrow), will I get the benefit of LTCG if i sell it on 28th March 2025 ? Since the bought stocks will only enter my demat on 1st April.

[Quicko]

Hey @raghav.95,

The same has been discussed on the below 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…