Transfer of beneficial interest in securities [Section 45(2A)]

Event:
Transfer made by the Depository or participant of such beneficial interest in respect of securities ie. if shares/securities are transferred in “demat” form.

Year of Chargeability:
Previous year in which transfer takes place.

Consideration:
Value received

COA + POH

Cost of acquisition and the period of holding of securities shall be determined on the basis of the first-in-first-out (FIFO) method. 

Assessee chargeable to tax: any person has had at any time during the previous year any beneficial interest in any securities =  beneficial owner 

NOTE- Shall not be regarded as income of the depository who is deemed to be the registered owner of the securities by virtue of section 10(1) of the Depositories Act, 1996. 

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