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.
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STCG on Shares - STT PAID
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
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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