24 May 2008
STT as per the recent budget is allowed only as a expenditure. how to show STT as a deduction by a investor? As a deduction from STCG (income) or it can't be shown at all?
In computation of Capital Gain STT will not be allowed as deduction. This is due to the fact that levy of STT is compensated by lower tax rate 10% in case of STCG in place of normal 30%.
CAclubindia
