accounting help

The entry for purchase of shares has been passed as :

DLF A/c Dr. 10,000

STT A/c Dr. 12

Stamp Duty A/c Dr 9

Brokerage A/c Dr 57

Service Tax A/c Dr. 112

Other Charges A/c Dr. 50

To Brokers name A/c 10,240

The entry for sale of shares has been passed as :
Brokers name A/c Dr. 12,000

STT A/c Dr. 25

Service tax A/c Dr. 115

Brokerage A/c Dr. 50

Stamp Duty A/c Dr. 14

Other charges A/c Dr. 16

To DLF A/c 12,220

Are the above 2 entries passed correactly ?
Then can someone pls help me with the calculation of capital gains.

Is it necessary to show the various expenses or charges separately as i think
from this year STT is also allowable ?

Originally posted by :Kushal
"	The entry for purchase of shares has been passed as : DLF A/c Dr. 10,000 STT A/c Dr. 12 Stamp Duty A/c Dr 9 Brokerage A/c Dr 57 Service Tax A/c Dr. 112 Other Charges A/c Dr. 50 To Brokers name A/c 10,240 The entry for sale of shares has been passed as : Brokers name A/c Dr. 12,000 STT A/c Dr. 25 Service tax A/c Dr. 115 Brokerage A/c Dr. 50 Stamp Duty A/c Dr. 14 Other charges A/c Dr. 16 To DLF A/c 12,220 Are the above 2 entries passed correactly ? Then can someone pls help me with the calculation of capital gains. Is it necessary to show the various expenses or charges separately as i think from this year STT is also allowable ?	"

Yes you r right that STT will be allowable?

But all other expenses inclusing STT should be debited to DLF A/c for purchase entry & for sale DLF is to be credited by net amount of sale entry.

Capital gain Tax if sold less than a year then 10.30% on (sale - purchase price) & suchchage 10% if applicable.

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