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SECURITY TRASACTION TAX -1

This query is : Resolved 
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(Querist)
15 March 2008 whether stt should be deducted from sales considration received from sale of shares for the purpose of calculating the short term/long term capital gain to achive the net sales considration ?
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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
15 March 2008 Yes. It is an exp incurred in relation/connection to transfer. Hence, deductible
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
15 March 2008 NO, NOT AT ALL STT DEDUCTION SHALL BE ALLOWABLE FROM THE SALES CONSIDERATION.IT IS NOT CONSIDERED AS EXPENSE IN RELATION TO TRANSFER.
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R.V.RAO

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R.V.RAO (Expert)
15 March 2008 THE RECENT BUDGET ALLOWS STT AS DEDUCTIBLE EXP.
R.V.RAO
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