Record mantainence of shares trading

This query is : Resolved

AMEET KIMBAHUNE (Querist)
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16 May 2014 Sir,

I am writing Books of ACCOUNTS FOR A Elderly person. He trades in Futures , Options and Short Term Shares . But has only Contract Notes with him. Can I mantain Excel Workings for the purpose of Income tax. Or do I have to mantain it in some kind of software. If I can provide full details with lot sold and purchase .

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Pradeep Shah

Pradeep Shah (Expert)
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17 May 2014 you can maintain records in excel, there is no necessary to do in software.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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17 May 2014 all you need is bank statements, contract notes, records of any dividend received...payment made for DP etc etc.

whether you maintain the profit and loss account in excel or on a piece of paper is immaterial.

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