What should be taken as cost price or sellprice of shares?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 July 2010
Dear Experts,
When we purhcase or sell a share, the price is breakdown as follows:
Buy:
grossprice + brokerage + servicetax + STT + StampDuty + TurnoverCharge
Sell:
grossprice - brokerage - servicetax - STT - StampDuty - TurnoverCharge
My query is what is the cost price/selling price of my shares. IS it Gross price or net price or any other? Pls let me know.
I have read that when calculating Long term or Short term capital gains, STT should not be included..
Also How do I keep entries of my shares in ACCOUNT BOOKS?
When we purhcase or sell a share, the price is breakdown as follows:
Buy:
grossprice + brokerage + servicetax + STT + StampDuty + TurnoverCharge
Sell:
grossprice - brokerage - servicetax - STT - StampDuty - TurnoverCharge
My query is what is the cost price/selling price of my shares. IS it Gross price or net price or any other? Pls let me know.
I have read that when calculating Long term or Short term capital gains, STT should not be included..
Also How do I keep entries of my shares in ACCOUNT BOOKS?
Aditya Maheshwari
(Expert)
22 July 2010
Purchase price:
grossprice + brokerage + servicetax + StampDuty + TurnoverCharge
Selling Price:
grossprice - brokerage - servicetax - StampDuty - TurnoverCharge
STT not allowable expenditure by virtue of section 48 for capital gains.
If business of trading in share is there then STT allowable otherwise not.
grossprice + brokerage + servicetax + StampDuty + TurnoverCharge
Selling Price:
grossprice - brokerage - servicetax - StampDuty - TurnoverCharge
STT not allowable expenditure by virtue of section 48 for capital gains.
If business of trading in share is there then STT allowable otherwise not.
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