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Expenses of purchase and sales of shares

This query is : Resolved 
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(Querist)
20 February 2019 Dear Sir,

When we purchase and sales of shares of listed company from brokers.
Brokers issue a contract notes/bill for purchase/sales of shares.
In this contract note included name of company, rate of shares & net purchase/sales amount
and brokerage & expenses of stock exchanges/transaction charges such as STT, Turnover charges,
sebi charges & GST Exps.

My query is what is accounting treatment as per income tax & how to pass the entry in accounts.
The cost included in purchase of stocks, brokerage & expenses of stock exchanges/transaction charges such as STT, Turnover charges,
sebi charges & GST Exps or only stocks purchase Exps.

Please explain in above issue.

Thanks & Regards
NK




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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
28 September 2021 Yes, for business of shares, cost includes all the expenses charged over the transaction.
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