Accounting for shares intra day and delivery
This query is : Resolved
17 May 2015
hi experts
i trade in stocks
intraday and delivery
what accounting entry i should pass for recording it
complete bifurcation of stt brokerage turnover charges
Also do i need to maintain different records for intra day and delivery as speculation business income is taxed separately to business delivery based income
Nikhil Kaushik
(Expert)
17 May 2015
you need to record both buy and sell transactions. for intra day, you can pass transactions for net-effect ie profit/loss. You need to maintain separate records for intra day and delivery trades.
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