Expenses of purchase and sales of shares
This query is : Resolved
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
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
28 September 2021
Yes, for business of shares, cost includes all the expenses charged over the transaction.
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