Query on Capital gain tax

Hi, I am an individual investor and I have a few doubts in regard to computation of Capital Gains. Does Brokerage, Service tax and STT incurred in connection with transfer (Buy/sell) of Equity shares traded in NSE/BSE through DELIVERY become part of cost of acquisition? Whether STT can be treated as advance tax and adjusted against Short term capital gain? If the shares are bought in one FY and sold in subsequent/other FY, Whether the expenses like Brokerage, Service tax and STT incurred while Buying be included in investment or be charged to capital a/c (or Expenditure A/c) in the FY in which shares are bought? Lakshmi

Dear Lakshmi, Pls note that the exps. like Brokerage incurred in connection with the purchase of Securites is to be treated as a part of cost of Securities and the Brokerage paid on Sale of Securities will be deducted from the sale consideration so as to arrive at the Net Sales Consideration.

brokerage and service tax are deductible expenses as part of cost of purchase whereas STT is not allowed as deductible cost for calculation of capital gain whether short term or long term

Yes it is same

I am selling a land and is not within 8 km from notified area as per 2001 census.. i want to know if there is an updated list for notified area & if so where will it be available? because if its not near notified area then it will not come under capital gains too ( greater than 3 yrs holding) thus will not fetch tax.

How I can save Income Tax on Short Term Capital Gain ?

Can I deposited the STCG Amount in Capital Gain A/c or any other itea.

Pl. update me on my email : pmjodhpur @ yahoo.com

 

Originally posted by : PRADEEP MITTAL
	How I can save Income Tax on Short Term Capital Gain ? Can I deposited the STCG Amount in Capital Gain A/c or any other itea. Pl. update me on my email : pmjodhpur @ yahoo.com

What every investor needs to know about Capital Gains Account Scheme? Mr Chaudhury has just sold his old ancestral house for a lump sum consideration of Rs.20,00,000. He has now set his eyes on a new apartment which is due for possession within the next two years.

 

https://holisticinvestment.in/blog/what-every-investor-needs-to-know-about-capital-gains-account-scheme/ 

 

 

Regards

Ramalingam K, MBA, CFP,

Director and Chief Financial Planner,

Holistic Investment Planners

“Best Performing Financial Advisor Award” Winners from CNBC TV18

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