Intraday share trading

This query is : Resolved

RAJESH VERMA (Querist)
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24 December 2011 For the purpose of Intraday share trading turnover means agreegate value of all transactions whether profit and loss during the year. My query is how to show these trasactions while preparing profit and loss account of Intraday Share Trading. I mean if we show Turnover amount as calcualted above, under which head the total of negative profit taken under such transaction as agregate value to be shown to arrive at the correct profit (net profit)

Aditya Maheshwari

Aditya Maheshwari (Expert)
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24 December 2011 The turnover of share trading is for purpose of section 44AB only and in Profit & Loss a/c you have to shown net profit or loss only.

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