banner_ad

securities transaction tax

1220 views 1 replies

A assessee suffers Securities transaction tax (STT) regarding transaction is cash market as well as futures trading.He treates cash maret transaction as capital gain and futures as business income. so while paying tax on future trading he can adjust the STT paid for the tax payable and balance he will pay. My question is whether he can take credit of STT paid on cash market transactions while paying tax on futures trading

Example:1) STT paid in capital market ie cash market Rs.15000/-

              2) STT paid in derivatives market ie futures trading Rs.10000/-

              3)Income tax on futures trading Rs.50000/-

 So, what is the tax payable ?

Replies (1)
No difference between STT and on Futures and cash markets. The main differnce is to be made from the point whether your holding for business or Investment. If ur holding for business/trading purpose then you can claim STT under Sec 88E of the IT Act


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details