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Deduction of STT from STCG & LTCG

This query is : Open 
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(Querist)
10 November 2009 Hi,

I am having STCL & LTCG from share trading. As per the recent amendment in Budget, can I add STT to purchase value and deduct STT from sales value and calculate STCG / LTCG accordingly.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
10 November 2009 For calculation of STCG & LTCG STT is still not an allowable deduction. The same is allowable only if the assessee is engaged in buying and selling of shares and not otherwise.
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CA JAIMIN TRIVEDI

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CA JAIMIN TRIVEDI (Expert)
10 November 2009 Agree with expert
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Amit

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Amit (Expert)
30 December 2009 Can an Individual Show his Share transaction as buying and selling of Shares
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
30 December 2009 Yes, there is no creteria for trading in shares
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Amit

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Amit (Expert)
31 December 2009 But to allow it as a STT he should have a business of trading in shares ( because STT is allowed as a expense in PGBP )and the contract note should come in that name....
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