PMS Fees and Capital Gains: Can You Claim Deduction Under Section 48?

CA Varun Guptapro badge , Last updated: 08 September 2025  
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1. Introduction The increasing use of Portfolio Management Services (PMS) and Investment Management Services (IMS) by high-net-worth individuals and investors has raised a persistent controversy under the Income-tax Act, 1961: Can PMS fees be deducted in computing capital gains under Section 48?

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CA Varun Gupta
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Category Income Tax   Report

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