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Is demat charges allowable as expense for investor in shares

This query is : Resolved 

07 November 2012

Dear Sir,
Company is Broker and invests in shares/securities and make Short term and Long term Capital gains by purchasing and selling..
Can Company claim Demat charges paid by it on these transaction as Expense or can it take deductions from Capital Gain(Short/Long term)
ITO is Disallowing Demat Expenses Claimed as exp by Company is he correct in doing so?

Please provide relevant case law if any.

Thank You.

Aditya Maheshwari (Expert)
07 November 2012

If disallowed under business & profession ask him to give deduction under the head capital gains as expenditure on transfer.

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