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Amc on share dp

Tax queries 521 views 5 replies
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152 Points Posted on 19 January 2019

Can AMC charges for DP be deducted from Capital Gains from Shares / MFs whether it is Short Term or Long Term. What if there is a Short / Long Term Loss.

Also if taken consultancy from some consultant for trading in shares, can the amount paid be deducted from Capital Gains.

Please clarify.

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On 19 January 2019 at 15:57 Report
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1020 Points Posted on 19 January 2019
can you please write the
AMC-
DP-
MF-
4 Reply
On 19 January 2019 at 16:24
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Practicing CA
1225 Points Posted on 19 January 2019
as per my view expenditure incurred wholly and exclusively in connection with such transfer is deduction from sale of share. In your case dp charges is related to transfer of shares but consultancy fees paid is not deductible.
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On 19 January 2019 at 16:38
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150 Points Posted on 19 January 2019
Consultancy charges incurred during the period and appropriate payments made in appropriate mode in direct relation to buying and selling of charge can be deducted from capital gain ie; wholly and exclusively used for earning that income.
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On 19 January 2019 at 22:47
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152 Points Posted on 09 April 2019
Ms Sarita It means if we have paid suppose Rs. 250.00 p.a. to broker as AMC charges then this amount can be deducted from capital gains while filling ITR.
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On 09 April 2019 at 11:11
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152 Points Posted on 09 April 2019
Dear Mr Girish Suppose I took consultancy from some magazine group for advice on purchase / sale of shares and paid say Rs. 10,000.00 towards it to them. Can it be deducted from capital gains while fillling ITR.
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On 09 April 2019 at 11:13


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