Capital gain of shares
This query is : Resolved
03 August 2011
Dear Experts,
Kindly confirm whether while calculating STCG on shares, STT , brokerage would be deducted or not.
Thanks.
Kindly confirm whether while calculating STCG on shares, STT , brokerage would be deducted or not.
Thanks.
03 August 2011
STT will not be deducted from the sales consideration while sale and will not be added in cost while purchasing the shares.
Brokerage may be deducted and added.
Brokerage may be deducted and added.
03 August 2011
STT is not allowed as deduction in computing Capital Gains.
Proviso to Sec 48 reads as under -
[Provided also that no deduction shall be allowed in computing the income chargeable under the head “Capital gains” in respect of any sum paid on account of securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004.]
Proviso to Sec 48 reads as under -
[Provided also that no deduction shall be allowed in computing the income chargeable under the head “Capital gains” in respect of any sum paid on account of securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004.]
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