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Amc on share dp

S.K.Agrawal (Others) (114 Points)

19 January 2019

Can AMC charges for DP be deducted from Capital Gains from Shares / MFs whether it is Short Term or Long Term. What if there is a Short / Long Term Loss.

Also if taken consultancy from some consultant for trading in shares, can the amount paid be deducted from Capital Gains.

Please clarify.

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5 Replies

MOHAMMED IMRAN (1020 Points)
Replied 19 January 2019

can you please write the
AMC-
DP-
MF-

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ACA Sarita Laddha (Practicing CA) (1225 Points)
Replied 19 January 2019

as per my view expenditure incurred wholly and exclusively in connection with such transfer is deduction from sale of share. In your case dp charges is related to transfer of shares but consultancy fees paid is not deductible.

Girish Jain (150 Points)
Replied 19 January 2019

Consultancy charges incurred during the period and appropriate payments made in appropriate mode in direct relation to buying and selling of charge can be deducted from capital gain ie; wholly and exclusively used for earning that income.

S.K.Agrawal (Others) (114 Points)
Replied 09 April 2019

Ms Sarita It means if we have paid suppose Rs. 250.00 p.a. to broker as AMC charges then this amount can be deducted from capital gains while filling ITR.

S.K.Agrawal (Others) (114 Points)
Replied 09 April 2019

Dear Mr Girish Suppose I took consultancy from some magazine group for advice on purchase / sale of shares and paid say Rs. 10,000.00 towards it to them. Can it be deducted from capital gains while fillling ITR.