Diosys, thanks for your wonderful & prompt reply and for your well-meaning advice to keep books of accounts (in large caps )...
If I may explain what I do maybe you can guide us (me & TFL):
I have a spreadsheet which is a replica of my bank statement which I suitably modify to as to make it filterable / searchable / sortable. So this will provide me information re. cash inputs to my broker and receipts from him.
Each and every contract note, I break up into its components. Say I buy and sell X different scrips in intraday and take delivery of Y different scrips and give delivery of Z different scrips. I paste the relevant part of my contract note into a spreadsheet that allows me to break up scrip-wise and as per intraday or delivery basis. For each, I also pro-rata allocate the various charges (brokerage, ST+EC, stamp duty, Exchange levy and STT) using a spreadsheet formula. The formula ensures that STT on intraday is charged only on the sell leg (for easy deduction u/s 80E (?)).
The proceeds of each contract note are added to a "mega" spreadsheet that contains all the transactions I've done since I started (in Jan 2008). So the contents again are searchable, filterable, sortable.
Additionally, I have a spreadsheet that reflects all credits / debits with my broker. My business begins & ends with him!
The broker provides a closing balance of shares and their market value for 31st March 2008 & 31st March 2009.
I'm not interested in deducting expenses such as conveyance, broadband, etc., so I feel I'm maintaining "proper" records although not in the classical cash book / ledger type of way.
If I may explain what I do maybe you can guide us (me & TFL):
I have a spreadsheet which is a replica of my bank statement which I suitably modify to as to make it filterable / searchable / sortable. So this will provide me information re. cash inputs to my broker and receipts from him.
Each and every contract note, I break up into its components. Say I buy and sell X different scrips in intraday and take delivery of Y different scrips and give delivery of Z different scrips. I paste the relevant part of my contract note into a spreadsheet that allows me to break up scrip-wise and as per intraday or delivery basis. For each, I also pro-rata allocate the various charges (brokerage, ST+EC, stamp duty, Exchange levy and STT) using a spreadsheet formula. The formula ensures that STT on intraday is charged only on the sell leg (for easy deduction u/s 80E (?)).
The proceeds of each contract note are added to a "mega" spreadsheet that contains all the transactions I've done since I started (in Jan 2008). So the contents again are searchable, filterable, sortable.
Additionally, I have a spreadsheet that reflects all credits / debits with my broker. My business begins & ends with him!
The broker provides a closing balance of shares and their market value for 31st March 2008 & 31st March 2009.
I'm not interested in deducting expenses such as conveyance, broadband, etc., so I feel I'm maintaining "proper" records although not in the classical cash book / ledger type of way.
http://www.traderji.com/taxation-ma...-thread-settling-these-issues.html#post340342