Sir,
please provide the name of account head and group ( profit of purchase sale shares)
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Share Profit head and group
Replies (5)
Quick Summary
Profit on Shares A/c , under Indirect Income , in Profit and Loss Account .
If the purchase and sale of shares is taxable for you under capital gain then
Bank A/c Dr
To Investment (Cost)
To Capital Gain (Profit)
Bank A/c Dr
To Investment (Cost)
To Capital Gain (Profit)
As per AS13 Investment .
Any profit or loss on disposal of Investment to be transferred to profit and loss account .
Any profit or loss on disposal of Investment to be transferred to profit and loss account .
Yes. It's capital gain only .You may create a capital gain ledger under indirect income & adjust in IT Computation under capital gain .
If you create ledger either capital gain or profit on sale of shares under indirect income then it's transferred to P & L
If you create ledger either capital gain or profit on sale of shares under indirect income then it's transferred to P & L
Thank you very much Prasad & Eswar Reddy Sir,
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