Please Specify the Name which is given below, Deductible from Capital Gain / Loss from Shares, at the time of Sales and Purchase :- Brokerage Transaction Charges Stamp Duty Service Tax STT
Vijay Kr. Mishra (prop.) (576 Points)
11 June 2009Please Specify the Name which is given below, Deductible from Capital Gain / Loss from Shares, at the time of Sales and Purchase :- Brokerage Transaction Charges Stamp Duty Service Tax STT
CA Amit Kumar Khaitan
(Research Analyst)
(360 Points)
Replied 12 June 2009
all charges except for STT are deductible as expenditure incurred for effecting the sale as per the provisions of Section 48.
Also by virtue of the amendments brought about by the Fianance Act 2008, if STT is incurred in the course of the business of trading in Shares etc then it is also deductible as a business expenditure..
However under no circumstances can it be deducted while computing Capital gains
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