STT refund can be claimned?

HI,

 

Our company deals in listed securities. Last year it incurred loss. I want to know STT which was paid by the company, can be refunded. earlier it was adjusted u/s 88 E with tax liabilty. Since this year tax liability is 0, what should be done with STT.

Thanks

Girish Kapoor

Replies (6)

last yr, their was a rebate u/s88E... this yr. the rebate was deleted and the deduction is now given u/s36 of the amoutn paid.........as STT... But its refund can't be claimed as it is an expense........u can carry forward its loss...............

Fully agree with Ashish

Originally posted by :girish
" HI,
 
Our company deals in listed securities. Last year it incurred loss. I want to know STT which was paid by the company, can be refunded. earlier it was adjusted u/s 88 E with tax liabilty. Since this year tax liability is 0, what should be done with STT.
Thanks
Girish Kapoor
"

 

Thank you very much for your reply. It means that F. Y. 2008-09, I have no option to cliam it as expenditure. But for F.Y. 2009-10 It will be treated as expenses. Please confim the same.

 

Thanks  & Regards,

 

Girish kapoor

Dear Girish,....the aforesaid amendmetn is applicable from F.Y.08-09 and subsequent yrs..........so any STT paid during that and subsequent yrs can be claimed as expenditure u/s 36(xv)...............SO FOR F.Y. 08-09, U CAN VERY WELL CLAIM IT AS AN EXPENDITURE...................!!!

Yes STT allowable as a deduction from F. Y. 2008 - 09 and in case of loss the same can be carried forward along with loss.

Originally posted by :Aditya Maheshwari
" Yes STT allowable as a deduction from F. Y. 2008 - 09 and in case of loss the same can be carried forward along with loss. "


 

Thank you very much all of you for infomation.

Thanks & Regards,

Girish Kapoor

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