One of my client has trading account for shares,commodity and derivatives.His broker has given separate ledger for transactions related to all three securities.
whether any profit arising from all three will be treated as capital gain or business income.
can we get deduction of Expenditure related to same ?
Assuming the assessee is not a dealer in shares, the resultant profit shall be taxed u/ capital gains.
Brokerage or commission can be claimed as deduction.
However STT paid can't be claimed as deduction.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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