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Security transaction Tax

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(Querist)
17 June 2008 What is the treatment to STT when we paid on paid on purchase of shares.it will consider under REBATE or add to purchases
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CA. PRASAD

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CA. PRASAD (Expert)
17 June 2008 STT will never forms the part of Purchases but it will be allowed as REBATE u/s. 88E only when the assessee is engaged in the business of sale and purhcase of the Shares and not otherwise.

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