stt on short term capital gain

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PAVAN SHARMA (Querist)
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07 January 2010 Dear Sir/Madam,

I have computed short term capital gain on shares under provision of section 111A at the rate 15% flat rate. I cliamed service tax and other charges as selling expenses for calculating short term gain on shares.
Further I would like to know that can I claim STT also as selling expense.

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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07 January 2010 No, STT on capital gain is not allowed for deduction purpose.

However, from A.Y. 2010-11 it is allowed as deduction u/s 36 only if that Gain on sale of shares is taxable under PGBP.

Regards!!!
Dinesh S. Adhikari

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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