Deduction of STT from STCG & LTCG

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shailesh (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.

Aditya Maheshwari

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.

CA JAIMIN TRIVEDI

CA JAIMIN TRIVEDI (Expert)

10 November 2009 Agree with expert

Amit

Amit (Expert)

30 December 2009 Can an Individual Show his Share transaction as buying and selling of Shares

Aditya Maheshwari

Aditya Maheshwari (Expert)

30 December 2009 Yes, there is no creteria for trading in shares

Amit

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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