banner_ad

Share purchase Sale STCG

349 views 6 replies
User Avatar

Pivate
1491 Points Posted on 22 February 2022
sir

we purchase and sale some shares please suggest entry in books of account is correct or not and how to withdrawal STCG from sale purchase

Purchase entry.

Investment in shares Rs.14325 Dr. ( Investment)
Brokage & other exp. 20 Dr.( Investment)
SBICAP Rs.14345 Cr.( sundry creditors)


Sale entry.

SBICAP Rs.14682 Dr.(Sundry creditors)
Brokage & other exp 18 Dr.(Investment)
Investment in shares 14700 Cr.(Investment)

please suggest how to calculate STCG
2 Reply Share Follow
On 22 February 2022 at 19:57 Report
Replies (6)
User Avatar

GST Practitioner & Accounts
15083 Points Posted on 22 February 2022
Purchase Entry

Investment in Shares. A/c Dr
To SBI A/c Cr
( Investment of Shares )

Sales Entry

SBI A/c Dr
To profit on Shares. A/c Cr
To Investment in Shares A/c Cr
( sale of shares )

profit on sale of shares will be transferred to P&L

short term capital gain for the purpose of Income tax
Expense like brokerage to be included in the Cost of purchase .
( reference AS13)
24 Reply
On 22 February 2022 at 21:21
User Avatar

Pivate
1491 Points Posted on 22 February 2022
Sir, according to above purchase Sale could you show me how much profit I am earning and how much tax I will to pay.
2 Reply
On 22 February 2022 at 21:50
User Avatar

GST Practitioner & Accounts
15083 Points Posted on 22 February 2022
15% Income tax on the short term capital gains .
24 Reply
On 22 February 2022 at 22:18
User Avatar

3924 Points Posted on 22 February 2022
Your profit is short term capital gains for Income tax purpose .
5 Reply
On 22 February 2022 at 23:19
User Avatar

Pivate
1491 Points Posted on 23 February 2022
Sir
purchase shares 14345/- and Sale 14682/_ Profit Rs.337/- STCG Rs.51 it's correct way
2 Reply
On 23 February 2022 at 08:48
User Avatar

GST Practitioner & Accounts
15083 Points Posted on 23 February 2022
Yes, correct @ 15 % Flat rate +Surcharge + cess ,

however STT and certain conditions for STCG as per section 111A , of the Income tax act , so please refer section 111A .
24 Reply
On 23 February 2022 at 14:03


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details