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Security Transaction Tax

This query is : Resolved 
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(Querist)
03 December 2009 Should an Individual(A normal trader/investor)claim refund against STT. If can then under which section and what is the criteria.
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C.A.Amitabh Gupta

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C.A.Amitabh Gupta (Expert)
03 December 2009 Till AY 08-09 , STT was allowed as rebate against Tax liability u/s 88E only for normal trader/investor with income from share trading under the head " Business Income". But vide an amendment effective from April 1st,08, all STT paid will be allowed as expenditure against the income from share trading. Hence, in your case, u can claim refund against STT only upto AY 08-09 u/s section 88E.
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Shyamal

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Shyamal (Querist)
08 December 2009 Thanx
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