Transactions in securities--Determination of the date of transfer and holding period for the purpose of capital gains--Instructions regarding

Date of transfer for securities: broker's note or contract date governs holding period and FIFO applies to multiple lots.

Determination of the date of transfer for securities transacted through stock exchanges is the date of the broker's note for sellers and purchasers, provided delivery of shares and transfer deeds follow; for direct party sales, the declared contract date governs subject to actual delivery. Where purchases occurred in multiple lots and scrips cannot be correlated, the FIFO method determines holding periods, and indexation for long-term gains is applied accordingly.