Tax on equity share income..
This query is : Resolved
Ankit chandak
(Querist)
25 June 2015
dear all,
I want to ask that if m dealing in shares than I have to pay income tax on DAT...my question is DAT the STT which is charged when dealing in shares is itself IT tax or should I pay the IT by mentioning all my share transtions at the year end while filing the return and then pay upon the same..and one morewhether I have to mentioned in my return all the share translations done during the year...
Ankur Singhal
(Expert)
25 June 2015
Dear Ankit
STT is not allowed to be set off against any income tax liability.
You have to pay whole tax calculated on the transactions.
STT is not allowed to be set off against any income tax liability.
You have to pay whole tax calculated on the transactions.
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