Gains/losses from stock dealings - calculations

Tax queries 361 views 3 replies

Dear Experts,

 

While calclulating Gains/Losses from stock dealings, we generally deduct/add all additional costs like brokerage, service tax, STT etc. I believe STT and Service Tax etc can't taken as costs and only brokerage needs to be get deducted/added if we want to be 100% correct in our tax calculations.

 

So when I did a re-calculation of one of my deals without STT and Service Tax, my costs came to be nearly 89% of my initial costs. So my gains got increased and losses got decreased!

 

Please clarify on this subtle aspect of IT calculations.

 

Regards,

Harsha Vardhana R

Replies (3)
i am not sure about service tax bit stt is not included while calculating gains in case of shares.
i got an answer for you..... s.tax is included or deducted as the case may be while calculating gains or losses. whereas stt paid is excluded in all cases.

Thank you very much for the exact info!


CCI Pro

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