Want to book expenses for Income from Stocks/trading?
This query is : Resolved
07 July 2011
I have significant income from Stocks/Trading. Trading accounts are in my individual name.
I intend to book expenses like seminar fees, books & periodicals, online recommendation services, office equipment, petrol, travel etc.
What is the best way to book all these expenses? Please advise.
I intend to book expenses like seminar fees, books & periodicals, online recommendation services, office equipment, petrol, travel etc.
What is the best way to book all these expenses? Please advise.
08 July 2011
Dear kapil,
You can show the trading in shares as your business activity and thus claim expenditure which you are incurring for business purpose.
Regards
Abhisek Tosniwal
You can show the trading in shares as your business activity and thus claim expenditure which you are incurring for business purpose.
Regards
Abhisek Tosniwal
09 July 2011
In order to show share trading as business activity, will I require to change my trading accounts from Individual name to company name? That is too much of a hassle and not worth the trouble. If it is as simple as staring a proprietorship firm with Investment as line of business, then it makes sense.
Please advise.
Please advise.
09 July 2011
changing status to open.
13 July 2011
awaiting reply
13 July 2011
Dear Kapil,
You can open a proprietorship concern and do business in it. thus you can claim expenditure from there.
Regards
You can open a proprietorship concern and do business in it. thus you can claim expenditure from there.
Regards
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