banner_ad

Security transaction tax

This query is : Resolved 
Profile Image

Profile Image

(Querist)
31 July 2013 How the Securities transaction tax will be deducted from the income tax that is liable to pay?

i.e., I don't find any column in ITR4 form regarding the deduction of Securities Transaction Tax.

In ITR form, there is details about Advance tax paid; TDS paid and Self assessment tax payment but there is no entry for Securities Transaction Tax deduction.

In such condition, how can I deduct the securities transaction tax from the Net tax payable amount? If it is possible to deduct securities transaction tax from my net tax liability, I will get benefited. Kindly guide me.
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
12 August 2013 Security transaction tax is allowed as deduction only if income from trading in shares is a business income. It is NOT allowed as deduction in case of capital gains.

If you have shown business income from shares, then reduce STT from the income by showing under expenses.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
ARTICLESHIP 30 April 2026
Article Assistant

M/s G.K. Choksi & Co.

New Delhi

CA Inter

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details