Booking profit loss on share,transaction across FY
This query is : Resolved
10 July 2011
Hi,
I wanted to know that if i bought a share in a financial year and sold them off in the next FY (but within 12 months) in which FY should i book the profit/ loss in it ??
what is notional profit /loss ??
I wanted to know that if i bought a share in a financial year and sold them off in the next FY (but within 12 months) in which FY should i book the profit/ loss in it ??
what is notional profit /loss ??
10 July 2011
The profit/loss has to be booked on the date of sale.
12 July 2011
In the year in which sale took place.
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