When we purchase and sales of shares of listed company from brokers. Brokers issue a contract notes/bill for purchase/sales of shares. In this contract note included name of company, rate of shares & net purchase/sales amount and brokerage & expenses of stock exchanges/transaction charges such as STT, Turnover charges, sebi charges & GST Exps.
My query is what is accounting treatment as per income tax & how to pass the entry in accounts. The cost included in purchase of stocks, brokerage & expenses of stock exchanges/transaction charges such as STT, Turnover charges, sebi charges & GST Exps or only stocks purchase Exps.
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