whether STT is claimed as deduction while computing short tern capital gain or loss, if no please refer the section or case laws
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Securities Transaction Tax
Replies (3)
Read section 111A
while calculating stcg u can deduct stt also along with purchase cost, tax will on net income.
Not allowable. Read section 48
47[Provided also that no deduction shall be allowed in computing the income chargeable under the head “Capital gains” in respect of any sum paid on account of securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004.]
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