Shares accounting softwares including stt

Any expenditure incurred in connection with such purchase, exchange or other transaction eg. It's the assessing officer who decides. And normally speculative trades and intraday trading is considered as business income and taxed at your slab rate.

But sometime they even considered trades where buy sell take place within a week or such transaction is more frequent in your books which prove you bought the share as you speculated the price will increase in months or weeks. It's on that assessing officer to decide. I knew that STT can't be claimed as expense. But I am confused. I have a question. Alchemist your reply means that the brokerage we pay when buying and selling shares we can separate from the final amount and show it as expense on profit to reduce tax liability on both buy and sell leg?

I don't think so. And sell selling price of all shares sum-brokerage-st-stt as sell price. When I asked STT can be claim as an expense they said it's automatically calculated by their lan base software. Lets take this example and please explain. I don't get your question. What do you mean by "I don't think so"? Atiker Active member Sep 26, I don't think that's true.

Why can't brokerage and other charges be added to the cost? These are genuine expenses. Dealing with stock market transactions every day is no easy task. Keeping track of so many markets, multiple positions in a portfolio and, strategizing for future investments is already a tough job. No wonder, so many professional traders use a stock market accounting software to make sure their share accounting tasks are simplified.

A Stock Market is specified market were numerous buyers and sellers can trade in shares and various kinds of securities under a controlled, organized and regulated environment. The Stock Market is a device for transferring money from the impatient to the patient.

Warren Buffet. What is Stock Portfolio Management Software? Stock Portfolio Management software is used by individual investors, traders and investment managers to monitor and optimize performance of their own and their clients' investments. It can be a standalone application or part of an integrated portfolio management system that also includes other financial applications such as budgeting tools, tax preparation programs, etc.

The main purpose of this type of software is to help you manage your personal finances and make better trading decisions in order to achieve better results with less efforts. Currently, only actual journals purchases, sales, credit notes, cheques, deposits, transfers, etc. Reports like Trial Balance and Balance sheet work out Opening Balances, Retained Earnings, Net income for the year on the fly by summing appropriate journal records. I now have a new desire to account for shares purchased.

Tracking share purchases in a double-entry bookkeeping system goes outside my knowledge, and I would be glad of advice. I have created an account which corresponds to my account with a share broker. When I pay the broker money, I do a transfer from my bank account to the broker's account, which leaves a cash balance with the broker.

When the broker purchases some shares on my behalf, I create a journal which takes the share cost plus the fees out of the broker account. I'm assuming the other side of this journal would be an expense account for the fee, and a special account for the individual share - is that right? I am also recording in a linked record the quantity of shares purchased and purchase price. Should this special account appear on the balance sheet? If so, under what heading?

Likewise when the broker sells shares on my behalf, there will be a journal which puts the sale value back into the broker account, and puts any fees in expenses. And the quantity sold and selling price would be recorded in the linked record. However, this is where I get a bit lost. Supplementary question: What is the meaning of "Cost Basis" when showing portfolio value, and how is it calculated? Particularly when there are many buy and sell transactions for the share in question.

Accounting books only reflect the dollar value of inventories. Which means if you look at the balance sheet of McDonalds, you will not see how many bags of French fries are remaining at their storage facility, you will only see the total value at cost basis. Your requirement for noting the number of shares purchased is not part of the double entry accounting system.

Do nothing. Again, the number of shares will not be reflected anywhere in the accounting system. Only the total proceeds from the sale matters.