When I sell shares, how the demat account is treated? Is it LIFO, FIFO or any other method? How it will affect the capital gain?

For the sake of computing capital gains for IT purpose, you will have to use the FIFO method to compute capital gains.

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Understood FIFO (First In First Out) from your post (by searching google) :slight_smile:
Thanks.
Is LIFO used anywhere?

I guess not.

how can we change is fifo into Lifo?

This is not possible.