I would like to know is it mandatory to sell shares in stock market as per FIFO... or we can sell any scriptt with lower cost n make suitable gain.
and while doing accounting in tally for this transaction of sell, is it mandatory to follow FIFO method for share scriptt or we have to do accounting as per actual sale of scriptt(which is nt FIFO basis) & account Capital gain / Loss.
Pls advice.
Pls revert as soon as possible.
Any ca, tax consultant or accountant can do complete accounting of stock market transactions in 3 hours max, irrespective of turnover, with the help of attached reports. All the required information is given in the covering letter. For any queries feel free to contact me.
CAclubindia
