accounting treatment
This query is : Resolved
26 November 2009
what is the accounting treatment when we transfer our shares to a potrfolio management services and when they sell on our behalf. will it be a tranfer ?( as they sent a statement showing that they acquired shares from us on market price prevailing on date of transfer and sent a cheque after deducting the chargeswhen the shares are sold)
RAJESH SHUKLA
(Expert)
27 November 2009
portfolio management services is showing your shares in Dmat A/c.. These shares you can enetr in account as quoted investment in the head of investment. when the shares sale by thr portfolio, they deduct the charges Security Transaction Charges (STT). The STT dedcutin @ 1%.
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