Brokerage and STT in case of Capital Gians
This query is : Open
CA Amit Jaiswal
(Querist)
03 August 2009
Are Brokerage charges paid on trading of securities deductible for calculating Capital Gains??
What will be the treatment for STT paid ?????
What will be the treatment for STT paid ?????
chetan soni
(Expert)
03 August 2009
Please note.
STT paid at the time of purchase of shares/units - add this to cost of purchase
STT paid at the time of sale of such shares/units - deduct this form the sales consideration.
Then calculate the capital gains.
STT paid at the time of purchase of shares/units - add this to cost of purchase
STT paid at the time of sale of such shares/units - deduct this form the sales consideration.
Then calculate the capital gains.
CA Amit Jaiswal
(Querist)
03 August 2009
Thanx but this is only about STT. What about Brokerage charges paid ??
chetan soni
(Expert)
03 August 2009
same treatment.
CA Amit Jaiswal
(Querist)
04 August 2009
Sir, I've come to knoe that if the income is taxable under the head PGBP then STT will be allowable u/s36, but if it is Capital Gain then STT will not be allowable.
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