regarding share market
This query is : Resolved
18 September 2010
if there is Short term Capital Gain from stock market
1.can one claim Demat charges n DP AMC as expenses n deduct same from his STCG
2.if one has taken Loan (unsecured or secured) for stock market trading. can he deduct interest paid there on from STCG
3.if one is paying Consultancy fees for TIPs related to Stock market. can he deduct same while calculating STCG
if in above 3 case.
how will one treat this expenditure,which are paid by Cheque n for sure is not a part of his Drawings.
1.can one claim Demat charges n DP AMC as expenses n deduct same from his STCG
2.if one has taken Loan (unsecured or secured) for stock market trading. can he deduct interest paid there on from STCG
3.if one is paying Consultancy fees for TIPs related to Stock market. can he deduct same while calculating STCG
if in above 3 case.
how will one treat this expenditure,which are paid by Cheque n for sure is not a part of his Drawings.
18 September 2010
1. Yes you can consider it as expenses on transfer.
2. you can but please also refer circular no. 4/2007 where it has been stated that if borrowed funds are used in investing in shares and earning profit on sale of shares then the profit may be treated as business income and not capital gains
3. Yes u can.
2. you can but please also refer circular no. 4/2007 where it has been stated that if borrowed funds are used in investing in shares and earning profit on sale of shares then the profit may be treated as business income and not capital gains
3. Yes u can.
18 September 2010
In all case 1 you can claim expense even it you hold it investment.
But in case 2 & 3 you can claim expense only if you held it as stock .
But in case 2 & 3 you can claim expense only if you held it as stock .
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
