This is in relation to an individual status. Not any Business.
Share bought at Rs. 100. Brokerag : Rs 1. Service tax and Swach Bharat Cess Rs. 0.50. STT Rs. 2. Other Charges Rs. 1.5.
For the purpose of Cost of Acquisition ( capital gain, IT) = 100+1+.050+1.5 = Rs 103
1. Is the above cost of acquisition correct ?
2. What will be the accounting for stt ?
Except STT, rest is COA.
STT is considered as allowable expenses only if you are declaring such income under business.
So, in case of an idividual will it be correct to pass journal as :
STT Expense Dr.
To Bank
and the same shall not be an allowable expense under Income tax?
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