Calculation of trading profit/loss
This query is : Resolved
28 November 2013
Dear Sirs,
My question is- While calculating profit or loss in equity or FNO trading for the purpose of offering the same to income tax
1) the difference between buy price and sell price is taken ? ie., gross price
2) the difference between buy price + brokerage and sell price+brokerage is taken? ie net price. or
3) the difference beteen buy price +brokerage+STT and sell price+brokerage+STT is taken?
4)If the answer to is (1) then how to treat brokerage,STT and other charges?
5) If answer is (2) then how to treat STT and other charges?
6) If the answer is (3) then how to treat other charges
My question is- While calculating profit or loss in equity or FNO trading for the purpose of offering the same to income tax
1) the difference between buy price and sell price is taken ? ie., gross price
2) the difference between buy price + brokerage and sell price+brokerage is taken? ie net price. or
3) the difference beteen buy price +brokerage+STT and sell price+brokerage+STT is taken?
4)If the answer to is (1) then how to treat brokerage,STT and other charges?
5) If answer is (2) then how to treat STT and other charges?
6) If the answer is (3) then how to treat other charges
CA PARAS BAFNA
(Expert)
28 November 2013
You may rectify your statement as -
Sell price- Brokerage where ever you have mentioned Sale price+ Brokerage.
.
3. is the most likely answer and treat other charges as referred to in Q No 6 as expense and the same can be adjusted against/with your profit/loss.
.
Sell price- Brokerage where ever you have mentioned Sale price+ Brokerage.
.
3. is the most likely answer and treat other charges as referred to in Q No 6 as expense and the same can be adjusted against/with your profit/loss.
.
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