Dear Sir,
during purchase sale of shares we have losses of Rs.157/- so can we adjust with Capital account or transfer loss of Rs.157/- to profit loss account. please note that purchase sale of shares is not a main business.
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Loss during purchase sale shares
Replies (4)
Quick Summary
Consider it under loss from capital gains ..
If it is not main business , then Investing in shares will be Investment , and as per AS 13 loss will be transferred to profit and losss account.
You need to adjust in IT Computation.
You have to reverse it from business and consider it under capital gains..
( Incomes considered seperately )
You have to reverse it from business and consider it under capital gains..
( Incomes considered seperately )
Please do not consider my above reply loss transfer to p&L .
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