Want to book expenses for Income from Stocks/trading?
This query is : Resolved
07 July 2011
I have significant income from Stocks/Trading. Trading accounts are in my individual name.
I intend to book expenses like seminar fees, books & periodicals, online recommendation services, office equipment, petrol, travel etc.
What is the best way to book all these expenses? Please advise.
I intend to book expenses like seminar fees, books & periodicals, online recommendation services, office equipment, petrol, travel etc.
What is the best way to book all these expenses? Please advise.
08 July 2011
Dear kapil,
You can show the trading in shares as your business activity and thus claim expenditure which you are incurring for business purpose.
Regards
Abhisek Tosniwal
You can show the trading in shares as your business activity and thus claim expenditure which you are incurring for business purpose.
Regards
Abhisek Tosniwal
09 July 2011
In order to show share trading as business activity, will I require to change my trading accounts from Individual name to company name? That is too much of a hassle and not worth the trouble. If it is as simple as staring a proprietorship firm with Investment as line of business, then it makes sense.
Please advise.
Please advise.
09 July 2011
changing status to open.
13 July 2011
awaiting reply
13 July 2011
Dear Kapil,
You can open a proprietorship concern and do business in it. thus you can claim expenditure from there.
Regards
You can open a proprietorship concern and do business in it. thus you can claim expenditure from there.
Regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Rental income of jointly held property
- FEMA regulation Act. for inward remitance
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
