Stt
This query is : Resolved
07 May 2016
Dear Experts,
Can STT claim as expenses at time of purchase and sale of shares.
Thanks.
Can STT claim as expenses at time of purchase and sale of shares.
Thanks.
17 May 2016
As per fifth proviso of Section 48,
As per Section 36(XV)
No deduction shall be allowed in computing the income chargeable under the head "Capital gains" in respect of any sum paid on account of securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004
if the income arising from such STT transactions is included in the income computed under the head "Profits and gains of business or profession STT paid can be claimed as expense.
As per Section 36(XV)
No deduction shall be allowed in computing the income chargeable under the head "Capital gains" in respect of any sum paid on account of securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004
if the income arising from such STT transactions is included in the income computed under the head "Profits and gains of business or profession STT paid can be claimed as expense.
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