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SECURITY TRASACTION TAX

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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.
whether it should be added in cost of aquisation of shares ....
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Jitender

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Jitender (Expert)
15 March 2008 no, it is not considered in computing capital gains . it should be excluded from sales & purchase of shares respectively.
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
15 March 2008 NO IT IS NOT CONSIDERED ANYWHERE NEITHER IN SALES CONSIDERATION NOR UNDER COST OF ACQUISITION FOR COMPUTING CAPITAL GAIN.ITS BENEFIT APPLIES WHERE THE PERSON HAS BUSINESS INCOME INSTEAD OF INCOME FROM CAPITAL GAIN
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