regarding share market
This query is : Resolved
18 September 2010
if there is Short term Capital Gain from stock market
1.can one claim Demat charges n DP AMC as expenses n deduct same from his STCG
2.if one has taken Loan (unsecured or secured) for stock market trading. can he deduct interest paid there on from STCG
3.if one is paying Consultancy fees for TIPs related to Stock market. can he deduct same while calculating STCG
if in above 3 case.
how will one treat this expenditure,which are paid by Cheque n for sure is not a part of his Drawings.
1.can one claim Demat charges n DP AMC as expenses n deduct same from his STCG
2.if one has taken Loan (unsecured or secured) for stock market trading. can he deduct interest paid there on from STCG
3.if one is paying Consultancy fees for TIPs related to Stock market. can he deduct same while calculating STCG
if in above 3 case.
how will one treat this expenditure,which are paid by Cheque n for sure is not a part of his Drawings.
18 September 2010
1. Yes you can consider it as expenses on transfer.
2. you can but please also refer circular no. 4/2007 where it has been stated that if borrowed funds are used in investing in shares and earning profit on sale of shares then the profit may be treated as business income and not capital gains
3. Yes u can.
2. you can but please also refer circular no. 4/2007 where it has been stated that if borrowed funds are used in investing in shares and earning profit on sale of shares then the profit may be treated as business income and not capital gains
3. Yes u can.
18 September 2010
In all case 1 you can claim expense even it you hold it investment.
But in case 2 & 3 you can claim expense only if you held it as stock .
But in case 2 & 3 you can claim expense only if you held it as stock .
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Credit profit and loss account in case of bonus share received
- How to determine cost of acquisition of shares on De-merger or Merger
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
