Income tax- gst- is expenditure allowed.

Hi,

Mr.Assessee Suresh , is dealing in equity.  i,e buy & sale of equity shares.(some times, intraday & some times short term, i.e, 1 day to 6months)..

He incurred interest on loan,brokerage,depositary participant charges,Annual maintenance charges,share transfer charges,stamp duty, exchange charges,SEBI charges,etc..

I think all  of the  above are expenditure..so it  can be claimed as an exp  while calculating capital gain/loss.

Please confirm..&

Further,

Can he claim GST(Rs.10k around) as an expenditure.?I,e GST on brokerage, GST on interest (I,e interest on loan which was borrowed from banks.),GST on all other charges..

 However he is filing ITR3.( He is salaried employee& doing trading in free time)

Please Advise..

THANKS  IN ADVANCE

Replies (3)
if you declare the profits under business then you can claim all these expenses...
if you claim it as stcg, then you can claim only stt, brokerage,
which ITR is required for an individual having commission income?
for commision income you are required to file in ITR-1 if commison income is not your business..

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