Trwatment of STT
This query is : Resolved
Ravi Kumar Rajgaria
(Querist)
01 April 2009
What will be the treatment of STT and other charges paid to broker for purchase/sell of shares in the books of the company in the following situation?
1. If purchase/sell of shares treated as investment-
2. If purchase/sell of shares treated as trading-
1. If purchase/sell of shares treated as investment-
2. If purchase/sell of shares treated as trading-
01 April 2009
1. In case of Investment, no treatment but assessee will get benefit of 10(38) or 111A, as the case may be.
2. In case of trading, as per the amendent provision STT will be treated as business expenditure and will be deducted for computing N/P
2. In case of trading, as per the amendent provision STT will be treated as business expenditure and will be deducted for computing N/P
Ravi Kumar Rajgaria
(Querist)
01 April 2009
If only shares purchased during the year then in the books of the company, STT and other charges will be added in the cost of the shares or will be treated as disallowable expenditure?
01 April 2009
In Purchase case STT and other charges will be added in Cost of Shares only.
Sanjay Soni
(Expert)
02 April 2009
Other Charges will be added to the cost in both cases
STT will be adjustable against Income Tax liability for the gain from such trades in case of Trading and in case of Investment the STT will be added to the cost
STT will be adjustable against Income Tax liability for the gain from such trades in case of Trading and in case of Investment the STT will be added to the cost
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