share accounting

To The Best of my knowledge,

Cash/Bank A/c                            Dr    500

to P& L    A/c                                                    500

Weather This Transaction Done in A Particular day...

or There is Gap Between Days in Purchase & Sales.

or If Assessee Is Trader in Share Market......

or Investor.........

The Entry is Right Told by Raj,........But There are Some Provided...........

transaction are in a same day and asessee is trader i also said that this type of transaction with heavy volume

If asessee is a trader, then pass only 1 entry,

Brokerage A/c                                  Dr      ---

STT A/c                                              Dr      ---

S.Tax A/c                                           Dr      ---

If P&L  A/c                                         Dr      ---

If Cash & Bank A/c                          Dr      ---

         To If Cash/Bank A/c                                            ---

         To If P&L A/c                                                         ---

Best Regards,

Perfect One.. Raj..

Dear Raj the entry provided by u is correct,

But it would be good that we book the purchase & sale transaction also

The Assessee may at later can have the idea about the business done by him..

If  he receives the Scrutiny Notice at later stage the assessee have to give full details about every such transaction done by him

so its advisable to book purchase as well as sale entry also