Accounting for shares intra day and delivery

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Danish (Querist)
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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

Nikhil Kaushik (Expert)
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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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