I have a query:
A company invests in securities of different companies through a portfolio Management company.
While purchasing Shares, it incures all expenses, brokerage , STT etc. Now my query is Whether that STT is included in Cost of Shares(Investment) or not?
Can that STT be shown as expenses in P/L Account?
Further, In the Statement given by the Portfolio Company, STT was not shown as Cost of Shares.
Please suggest the best Accounting Treatment.