Securities Transaction Tax
This query is : Resolved
CA Mukesh Mishra
(Querist)
22 January 2010
Dear Sirs,
i want to know that wheather STT paid on securities can be allowed as deduction or not.
if allowed then from which year and under which section?
i want to know that wheather STT paid on securities can be allowed as deduction or not.
if allowed then from which year and under which section?
Bimal Thacker
(Expert)
22 January 2010
STT is allowable as expenses U/S 36(1) (xv) from A.Y. 2009-2010 onwards
Previously for A.Y. 2005-06 to 2008-09 it was not deductible due to disallowance under section 40(a)(ib) but was allowable as rebate under section 88E
Previously for A.Y. 2005-06 to 2008-09 it was not deductible due to disallowance under section 40(a)(ib) but was allowable as rebate under section 88E
CMA Ramesh Krishnan
(Expert)
22 January 2010
Agree
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