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Group and ledger

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729 Points Joined December 2021
Dear sir

please provide the name of ledger and group Loss of during sale of Shares.
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On 27 March 2022 at 16:11 Report
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CFO- at NHTF
58280 Points Joined August 2012
Create " Loss on sale of shares A/c" under exp
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On 27 March 2022 at 16:55
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729 Points Joined December 2021
SIR, it's under indirect exp?
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On 27 March 2022 at 19:27
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CFO- at NHTF
58280 Points Joined August 2012
Yes .It is under Indirect Expense
2 Reply
On 27 March 2022 at 19:30
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Profession Business
28196 Points Joined May 2017
How do you treat it?
Let's come to the point.
1. LOSS ON SALE OF SHARES IF ITS charged to profit and loss account.
2. it may be short term Capital loss or long term Capital loss.
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On 27 March 2022 at 21:57
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student
258 Points Joined September 2011
You can put it as loss on sale of shares account under the heading indirect expenses in the profit and loss account.
Entry will be
Bank account Dr. ( sale amount)
To Investment in shares ( cost of shares sold)
To loss on shares account
2 Reply
On 27 March 2022 at 23:42
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CFO- at NHTF
58280 Points Joined August 2012
If you are doing business and sale proceeds credited to business bank account then you have to consider under PL .While doing IT Computation it has to be adjusted in Capital Gain
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On 28 March 2022 at 07:32

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