share calculation

[anshul singhal]

can lifo method be used in calculating share profit and use of STT in calculating profit 

please answer very urgent

[CAGOPALJI AGRAWAL]

There is no fundamental principle for recognising LIFO method. STT would form part of purchases.

AI Summary

LIFO inventory method not recognised for share profit calculation; securities transaction tax treated as part of purchase cost. There is no foundational principle recognising LIFO for calculating profit on share transactions; securities transaction tax (STT) is included in the cost base and treated as part of purchases when determining share profit.