Chartered Accountant
1375 Points
Posted on 07 June 2017
Yes. Expenses in relation to Transfer of capital asset can be reduced to arrive at Net Consideration.
(In case of transfer of shares, STT paid cannot be deducted)
I dont think there is any specific section for the above. Its a prudent treatment to ensure only the Net consideration is subjected to CG tax. For more insights, you may refer the file attached.