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Securities Transaction Tax

This query is : Resolved 
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(Querist)
22 January 2010 Dear Sirs,

i want to know that wheather STT paid on securities can be allowed as deduction or not.
if allowed then from which year and under which section?
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Bimal Thacker

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Bimal Thacker (Expert)
22 January 2010 STT is allowable as expenses U/S 36(1) (xv) from A.Y. 2009-2010 onwards
Previously for A.Y. 2005-06 to 2008-09 it was not deductible due to disallowance under section 40(a)(ib) but was allowable as rebate under section 88E
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 January 2010 Agree
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