STT applicablitiy
This query is : Resolved
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?
how to show STT as a deduction by a investor?
As a deduction from STCG (income) or it can't be shown at all?
24 May 2008
Hi Kartick,
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%.
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%.
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