Ans. - Dear Bilakhia, I`m not at all agree with the view taken by ur Bank. Sample this -
Purchase date - 9 oct 2008
12 months completes on - 8 oct 2009 (by the midnight of 8th oct 2009 i.e. 12AM for 9 oct 2009)
since the holding periods exceeds the 12 months period (no matter the period is few days or few Hrs.), in my opinion ut Gains r LTCG & as the STT was paid,u r eligible for Tax free LTCG.
Bank is not right to ask for completion of 1 more day to be eligible for tax free LTCG.