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STCG on Shares - STT PAID

ITR 474 views 3 replies
For the FY 15-16 my Proft from Sale of Shares amounts to Rs. 1400 , however after including all charges this amount comes down to Rs. 800.
out of Rs. 600 ie out of the Total charges 350 approx is towards STT and balance Rs. 250 is for rest of the charges like Service Tax, Stamp duty etc.
Its a Short Term capital gain.
i need advise on what figure to be shown in the ITr return - 1400 or 800 and if I need to enter any figure under charges incurred inconnection with trf.
This matter is a bit urgent. Kindly attrnd this matter.
Replies (3)
  •  From sale of assets other than at A1 or A2 or A3 or A4 above
  • a    Full value of consideration                                                  5a            11400
  • b      Deductions under section 48
  • i Cost of acquisition without indexation                                       bi            10000
  • ii Cost of Improvement without indexation                                  bii                   0
  • iii Expenditure wholly and exclusively in connection with transfer  biii              600
  •   iv Total (i + ii + iii)                                                                    biv          10600
  • c Balance (5a - 5biv)                                                                   5c             800

Tried to give you figures as in ITR 2 with assuming cost of aquisition as 10,000/-

Thankyou sir, but I think I have read somewhere that in case of Individual assessees , STT deducted is not allowed as an expenses.
Can you please check and advice

Thanks for correcting me, STT not allowed for deduction for computing capital gains

Only allowed u/s. 36 of IT act.


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