Loss / Gains on Sale of Stocks

Hello,

My query is as follows

Stock Purchase Price                  : Rs 1,000

Brokarage Charge (inc STT)      : Rs      10

Total Cost of Purchase               : Rs 1,010

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Stock Sold at Price                     : Rs 1,500

Brokarage Charge (inc STT)    : Rs      15

Total Receipt on Sale(1500 - 15): Rs 1,485

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

Thus my question is, assuming I sold the stock before 1 year, do i pay tax on (1485 - 1010) or is it (1500 - 1000). As is should i remove the brokarage + STT and then calculate net gain as taxable income? Please advice 

Replies (1)

Sale Price      Brok & Other Chgs     STT     Net Amt.

1500                 10                                   5            1485

Purch Price    Brok & Other Chgs     STT     Net Amt.

1000                 8                                     2           1010

Short term capital gain (assuming sold within 1 yr) shall be calculated as under :-

Sale Price (net of Brok & Other chgs not STT)       1490

(-) Cost Price (incl Brok & Other chgs not STT)     1008

Short Term Capital Gain for tax purpose.....              482       

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