Dear Members,
I am Investing in Share Market and wants to make details in “TALLY” or “Excel” of my Trading / Transactions during the year to find out my Stock Position (Closing), Long Term Capital Gains / Loss, Short Term Capital Gains / Loss, Expenses Incurred, etc….
Dear Mr. Mishra,
First, create a company as "Accounts with Inventory" Option.
Create following ledger accounts in tally
1. Purchase of Shares A/c'
2. Sale of Shares A/c
(Open the above accounts under Purchase and Sale respy)
3. Speculation Purchase A/c
4. Speculation Sales A/c
(Open the above accounts as Direct Exps. or Income head. The head here will not make any difference as at the end of the year we will be netting off the two speculation account)
For Inventory of Shares follow following steps.
1. Open two groups:
i. Speculative Transactions Stock
ii. Delivery Based Transaction Stock
Mention each shares under two inventory groups by adding the same as stock item. CAUTION: Here make sure that you open two seperate accounts for the same stock if you are dealing in both Delivery Transactions and Speculative Transaction. E.g. Share of TISCO is defined in tally as TISCO - D and TISCO - S where D and S suggest that the entry in the inventory is for Delivery (D) and for Speculative (S) Transaction.
After above steps start entering entry BILL WISE only in JOURNAL mode.
At the end of the year close any one speculation account by transfering the balance to other speculation account. Balance either speculation profit or loss can be used for seperate reporting for Income Tax Purpose.
Hope this points will help you in accounting share transactions in Tally.
Regards,
**DM
Dear Sir,
Please write the Transactions on given Example, with mentioning Voucher have to use.
Purchase details : On 15 June 2008, X Purchases 100 Shares of TISCO For Rs. 12,000.00 ; at the time of purchase X pays : Brokerage Rs. 6.15; Transaction Charges Rs. 2.50; Stamp Duty Rs. 3.25; Service Tax Rs. 9.50; STT Rs. 18.00.
( Total Amount X pays for 100 Shares 12,000.00 + 6.15 + 2.50 + 3.25 + 9.50 + 18.00 = 12,039.40 )
Sales details : On 20 March 2009, X Sells 75 Shares TISCO For Rs. 10,875.00; at the time of Sales X pays : Brokerage Rs.5.25; Transaction Charges Rs.1.85; Stamp Duty Rs. 2.25; Service Tax Rs.7.50; STT Rs. 16.00.
( Amount Realised after paying Charges & Taxes: 10,875.00 - 5.25 – 1.85 – 2.25 – 7.50 – 16.00 = 10,842.15 )
Can X claim expenses incurred on DMAT charges for buying & selling.
| Originally posted by :Vijay Kr. Mishra | ||
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1) If the shares splits/ demerged or got bonus shares then how to incorporate all these situation in tally. 2) what will be the accouting and income tax treatment of brokerage, Service tax on brokerage, STT, Delivery charges, other charges, stamp charges levied on the contract note. 3)How to get the list of cases in which Dividend striping / bonus stripping attracted. (in tally) is there any short cut solution to get in the information from Tally. 4) Suppose in the contract note there 5 scriptts transacted out of which one is intra-day transaction and one is only sales transaction and one is purchase transaction and one is combined with purchase & intra day and last one is combined with sales & intra day transaction. insuch situation (a) how the charges as mentioned above will be treated from both point of view (Accounts & taxation) (b) how the entry can be made and speculation profit & loss to be calculated and entered. Thanking You, CA Ashish Bhalotia |
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