Accounting & Tax Treatment of Daily Shares Online Trading

This query is : Resolved 

14 August 2010 Dear Respected CA Club Members,

Our Company Directors have invested funds in IDFC Investment Portfolio, where the daily Online Shares are Traded and Transacted. We get the monthly Portfolio Statement disclosing the name of the scrips bought & sold, thier loss/ gains. What is the Accounting Treament we will do in the tally and What is Tax Treatment on the sale of Loss/Gain on sale of Transaction.Please revert me back.
Thanks & Best Regards

16 August 2010 PLEASE NEED AN URGENT EXPERT OPINION.
REGARDS

16 August 2010 SORY THE QURY IS TSILL OPEN


21 August 2010 The share trading on daily basis is treated as business and u have to accordingly maintain your books of accounts.

21 August 2010 I need to eloborate further by the experts opioion.




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