Accounting Method for Shares

559 views 1 replies

My client is a  long term investor in shares and, also, sometimes does short term trading but is not full time trader.

For convenience, he uses TALLY programme and makes all buying and selling entries thru the programme sales and purchase module and so share on hand are shown as stock in hand (opening stock, closing stock like)

Is it ok to show shares in account as stock or will he be considered a trader just because of his method of accounting and benefit of exemption of L.T. C. G will be denied even where applicable because of accounting method?



 

 

Replies (1)

You can take the benefit of 10(38) if you didn't file your return as a Trader but as an Investor having Income under the head Capital Gains.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details