urgent stock query

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ankur (Querist)
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29 December 2009 How to calculate stock profit.

Ex. 50 share powergrid purchase 50
70 share powergrid purchase 62
75 share powergrid sale 52
10 share powergrid sale 54

how to calculate profir & loss

Jag Bhushan Sharma

Jag Bhushan Sharma (Expert)
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31 December 2009 The main question here is which shares should constitute closing stock. According to Income Tax you should follow First in First Out (FIFO). According to this method your closing stock consist of 35 shares purchased @ Rs.62. So your profit will be:
Sales Price (75x52)+(10x54) =Rs.4440
Less Purchase price(50x50)+(35x62)=Rs.4670
Loss =Rs. 230

ankur

ankur (Querist)
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31 December 2009 Thank u sir

Wish you a very Happy Prosperous &

colorful Happy New Year

2010

Jag Bhushan Sharma

Jag Bhushan Sharma (Expert)
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01 January 2010 Thank you so much Ankur. I also wish you a lot of success in the new year 2010 and beyound that.

ankur

ankur (Querist)
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09 January 2010 we purchase share 50 lac in abc company in off market.but share not transfer in my demat a\c. i say all shares adjuste in margin a\c, today income tax notice pls proof thease shares are purchase so plese advice me.

Jag Bhushan Sharma

Jag Bhushan Sharma (Expert)
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11 January 2010 There must be an agreement when you purchased these shares. If you did not get them transferred to your Demat a/c, then whom you gave as adjust towards margin. Please clarify these points, then we can think of some proof etc.

ankur

ankur (Querist)
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11 January 2010 we gave adjust towards margin a\c. pls help this matter.

ankur

ankur (Querist)
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12 January 2010 sir pls reply

Jag Bhushan Sharma

Jag Bhushan Sharma (Expert)
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12 January 2010 Dear Ankur please reply to the questions I asked on 11th Jan. Only then I would be able to answer your question.

ankur

ankur (Querist)
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16 January 2010 Sir,

jab share purchase kiye tab agreement nahi banwaya tha agar ab last date mai banwaye to kaise banwaye. pls snd agreement form

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