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.
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.
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....
CAclubindia
