Query regarding Share Trading

Save Share

This query is : Resolved

Guest

Guest (Querist)

18 December 2010 Dear Friends / Experts,

Please express your views on the following :

A, an individual engaged in Shares Trading.

Query

To determine the cost of acquisition of share, can we directly add brokerage with purchase price ?

Ans : ...................

To determine the selling cost of share, can we directly deduct brokerage in sell price ?

Ans : ...................

Can we treat the following as Business Expenditure instead of adjusting directly with Purchase / Sell Price of Shares ?

a. MINIMUM DELIVERY CHARGES
b. LATE PAYMENT CHARGES
c. PENALTY FOR AUCTIONED SCRIP
d. STAMP DUTY CHARGES
e. SERVICE TAX
f. SECURITIES TRANSACTION TAX
g. TURNOVER CHARGES
h. DEMAT DELY CHARGES

Ans : ..................

If you can educate me with the basis including any relevant IT sections, I shall be very thankful to understand / learn.

I shall wait for your views.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
Follow

18 December 2010 Query

To determine the cost of acquisition of share, can we directly add brokerage with purchase price ?

Ans : YES...................

To determine the selling cost of share, can we directly deduct brokerage in sell price ?

Ans : YES...................

Can we treat the following as Business Expenditure instead of adjusting directly with Purchase / Sell Price of Shares ?

a. MINIMUM DELIVERY CHARGES
b. LATE PAYMENT CHARGES
c. PENALTY FOR AUCTIONED SCRIP
d. STAMP DUTY CHARGES
e. SERVICE TAX
f. SECURITIES TRANSACTION TAX
g. TURNOVER CHARGES
h. DEMAT DELY CHARGES

Ans : YES..................

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now