one of my client doing share trading. and he got 12 lac loss in it.
i want to know that how i make his books for tax audit.
his turnover is Rs 8,51,72,870.79
sales purchase loss
and sale value in intra day of shares 345675 366721.95 - 21046.95
future 399978118.75 400616450 -638331.25
option 70429022.50 70786542.50 - 357520
i make p&l Like this for CA :
purchase 471769714.45 sales 470752816.25
loss 1016898.20
brokerage 46283.6
Turnover charges 93685.34
STT 130472 but it is not deductable as expenses
Service Tax 17302.34
Stamp Duty 4749.74
SEBI 1801.26
telephone ex 12000
rent 36000
net loss 1228720.48
i want to know whether this is correct
and STT is deductable or not
CAclubindia
