Capital Gain / Loss on Shares

Tax queries 554 views 2 replies

Please Calculate  Capital Gain / Loss  in Shares on given example :-

 

            Purchase details : On   15 June 2008,  X  Purchases 100 Shares in  For    Rs. 12,000.00 ;  at the time of purchase X  pays :  Brokerage Rs. 6.15; Transaction Charges Rs. 2.50;  Stamp Duty Rs. 3.25;  Service Tax Rs. 9.50;  STT  Rs. 18.00. 

( Total Amount  X  pays for 100 Shares  12,000.00 + 6.15 + 2.50 + 3.25 + 9.50 + 18.00  = 12,039.40 )

 

 

            Sales  details : On   20 March 2009,  X  Sells 75 Shares  For  Rs. 10,875.00;  at the time of  Sales  X  pays :    Brokerage  Rs.5.25;   Transaction Charges  Rs.1.85;    Stamp  Duty  Rs. 2.25;    Service Tax  Rs.7.50;               STT  Rs. 16.00.

            ( Amount Realised after  paying Charges & Taxes: 10,875.00 - 5.25 – 1.85 – 2.25 – 7.50 – 16.00  = 10,842.15 )

 

Can X claim expenses incurred on DMAT charges for buying & selling.

Replies (2)

Please provide me answer also

Selling Price of 75 Shares                                             10875.00

Less Exp for in connection transfer                                     16.85

                                                                                             ---------------

                                                                                              10858.15

Less Cost of acquisition                                                     9016.05

                                                                                              --------------

                                   STCG                                                    1842.10

STT is not allowed as a deduction

Pls make me right if I am wrong

Thanks,


CCI Pro

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