hi,
I bought 10 share of A on 31/3/2010 for Rs.50. I sold them on 1/4/2010 for Rs.100. can I show like this? This is short term trading.
2010 return - buy of 50 and sale of 0 = (LOSS of 50) and Ending balance of 50.
2011 return - Opeining balance of previous year of 50 and sale of 100 = PROFIT of only 50.
===> OR
should I close books of 2010 as 50 loss. and
report all of 100 as profit in 2011 becase 2010 books were closed.
Thank you.
prasad,