Securities Transaction Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2010
Plz. answer the follosing ASAP :-
Is the STT deducted nfrom my Transaction Income be treated as Current Asset or as Indirect Expenses and can the STT be adjusted with the INCOME TAX payable ?
Is the STT deducted nfrom my Transaction Income be treated as Current Asset or as Indirect Expenses and can the STT be adjusted with the INCOME TAX payable ?
30 October 2010
SHOW CURRENT ASSETS AND ADJUST FROM TAX LIABILITY
30 October 2010
STT cannot be adjusted with INCOME TAX payable
Further it will be allowed as an expense u/s 36(1)(xv) only if income from sale of shares is shown as business income
Further it will be allowed as an expense u/s 36(1)(xv) only if income from sale of shares is shown as business income
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
- Price inclusive or exclusive of GST while made entry in P& L Account
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Dep. as per companies act
- Minimum tax payable to file Updated return
- Applicability of GST on Salary Reimbursement Component
- CHECK RELATED
- UDIN ISSUE
- Change Of Karta In Case of Death
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
