Bhavesh (Accounts) (152 Points)
25 November 2022Hello Friends, working in a co. where I am looking after personal accounts of the directors, where they transact in F&O, so I want to know what would be treatment or accounting entry for the same in view of income tax. please provide an example for more clarity.
Yasaswi Gomes new
(Finance )
(4477 Points)
Replied 26 November 2022
Yes. I also would like know the double entties. Please help me.
Yasaswi Gomes new
(Finance )
(4477 Points)
Replied 27 November 2022
That guy wanted to account for fand o and his CEO deals with then. So he was asking how to account for it. Jiutnal entries will help him
Bhavesh
(Accounts)
(152 Points)
Replied 27 November 2022
Hello Sabyasachi, I want to know the Accounting Treatment for the transactions that are conducted in F&O. As i know the accounting entry for the shares purchase i.e. cash segment, but for me F&O transactions are bit different, my director generally transact in Put and call options so want to know the accounting treatment with suitable eg. and also the impact in income tax. in case of share purchase we show the accounting entry as follows:
Share/Scrip A/c Dr.
STT A/c. Dr
Brokerage & Other Chgs. Dr.
to Broker A/c.
what accounting treatment would be for F&O transactions?.
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 27 November 2022
Bhavesh
(Accounts)
(152 Points)
Replied 27 November 2022
Sir our directors generally deal as business type. I dint get your question?. We receive a ledger from brokerage house, but to show in books of accounts what entry has to be passed?.
Eswar Reddy S
(CFO- at NHTF)
(58213 Points)
Replied 28 November 2022
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