What should be taken as cost price or sellprice of shares?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2010 Dear Experts,

When we purhcase or sell a share, the price is breakdown as follows:

Buy:
grossprice + brokerage + servicetax + STT + StampDuty + TurnoverCharge

Sell:
grossprice - brokerage - servicetax - STT - StampDuty - TurnoverCharge

My query is what is the cost price/selling price of my shares. IS it Gross price or net price or any other? Pls let me know.

I have read that when calculating Long term or Short term capital gains, STT should not be included..

Also How do I keep entries of my shares in ACCOUNT BOOKS?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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22 July 2010 Purchase price:
grossprice + brokerage + servicetax + StampDuty + TurnoverCharge

Selling Price:
grossprice - brokerage - servicetax - StampDuty - TurnoverCharge

STT not allowable expenditure by virtue of section 48 for capital gains.

If business of trading in share is there then STT allowable otherwise not.