Refund of Securities Transaction Tax
This query is : Resolved
06 January 2009
My stock broker charged a sum of Rs.25000 towards Securities Transaction Tax and issued me a certificate. I want to know can i claim this amount refund as I am not liable to pay Tax.
07 January 2009
STT and Income Tax are two different taxes.
There is no relation in between the two. The STT which u have paid is allowed as business expenditure provided u r showing share income under the head "Profits/Gains from Business and Profession"
There is no relation in between the two. The STT which u have paid is allowed as business expenditure provided u r showing share income under the head "Profits/Gains from Business and Profession"
07 January 2009
You can claim STT as an expense only if you are carrying out the business of trading in shares and you are filing the income tax return accordingly. If you file your return and show no profit or loss that is also allowed.
but the essential condition is that you become a trader in shares and securities and note that in future this becomes as a precedent for you.
but the essential condition is that you become a trader in shares and securities and note that in future this becomes as a precedent for you.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
