Cost of CFP Course as Expense against Trading

This query is : Resolved

Kapil Khanna (Querist)
Follow

25 July 2011 My wife took the CFP (Certified Financial Planner) course, which cost approx. 50k. She has not done any active financial planning upto march 2011, but has traded in shares. Can she write off the CFP expenses against the gain from shares trading?
Please advise.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

25 July 2011 Share trading has no direct connection with the expenses on cep hence it cannot be claimed. In share trading if the holding period of scrip is 15 days or more than it is to be treated as short term capital gains and kindly also note that if the transaction of no delivery has been done that is speculation business

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok