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stt on short term capital gain

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07 January 2010 Dear Sir/Madam,

I have computed short term capital gain on shares under provision of section 111A at the rate 15% flat rate. I cliamed service tax and other charges as selling expenses for calculating short term gain on shares.
Further I would like to know that can I claim STT also as selling expense.

07 January 2010 No, STT on capital gain is not allowed for deduction purpose.

However, from A.Y. 2010-11 it is allowed as deduction u/s 36 only if that Gain on sale of shares is taxable under PGBP.

Regards!!!
Dinesh S. Adhikari

07 January 2010 No, STT on capital gain is not allowed for deduction purpose.

However, from A.Y. 2010-11 it is allowed as deduction u/s 36 only if that Gain on sale of shares is taxable under PGBP.

Regards!!!
Dinesh S. Adhikari




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