i want to know about accounting for shares
are transaction charges, stt to be recorded separately or to be bifurcated amongst shares purchased. is there any guidance note of icai
2 Replies
Sathish Karunakaran
(ACA)
(614 Points)
Replied 26 November 2007
r u merely an investor or a share trader engaged in speculation business?
In case of speculative business assessee -
u have to account STT in a separate a/c., as it will facilitate in disclosing the value of securities and amount of stt paid in the Form 10DB U/s. 88E
CA.Akhilesh kumar
(79 Points)
Replied 27 November 2007
Dear shahapal777
you must segregate the STT during posting your transection
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