Securities transaction Tax
This query is : Resolved
19 June 2008
Whether STT Will Be Added IN the Cost Of Share purchased while entering its entry in the books of accounts and computing capital gain/loss on it ?
Same in case of sale of shares whether STT will be sustracted or not in the sales consideration while enterin it in the books of accounts and comuting capital gain on it ?
Please Tell me about this with reference to any case law ,ruling,concept, or logical thinking.and also about brokerage charges turnover charges and service tax included in the broker note and bill ?
Same in case of sale of shares whether STT will be sustracted or not in the sales consideration while enterin it in the books of accounts and comuting capital gain on it ?
Please Tell me about this with reference to any case law ,ruling,concept, or logical thinking.and also about brokerage charges turnover charges and service tax included in the broker note and bill ?
19 June 2008
For Accounting Purpose the following entries should be passed.
For Purchase of shares
Shares A/c........Dr
Brokerage A/c.....Dr
STT A/c...........Dr
Turnover Charges A/c.Dr
To Brokers A/c
For Sale of Shares
Brokers A/c.......Dr
Brokerage A/c.....Dr
STT A/c...........Dr
Turnover Charges A/c.Dr
To Shares A/c
For Purchase of shares
Shares A/c........Dr
Brokerage A/c.....Dr
STT A/c...........Dr
Turnover Charges A/c.Dr
To Brokers A/c
For Sale of Shares
Brokers A/c.......Dr
Brokerage A/c.....Dr
STT A/c...........Dr
Turnover Charges A/c.Dr
To Shares A/c
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