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Capital gains on shares
Sir, I have some issue over calculation of capital gains on shares .
1.service tax
2.security trans. tax
3. brokerage
4.transaction charges
Sir, how to treat these 4 items on buying and selling. whether they add on purchase cost or selling price please tell
Replies (1)
whether they are short term or long term ? you can deduct from sale consideration the brokerage paid if SECURITIES TRANSACTION TAX IS PAID SHORTTERM CAPITAL GAINS IS COMPUTED @ 15% as per section 111A and if it is a long term it is exempt from capital gains tax as per sec 10(38).It is presumed that shares are equity shares and listed on a recognised stock exchange
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