Cost of improvement for calculation of short term capital gains in respect of shares

Hemant D (na) (304 Points)

25 February 2017  
In one of the provisos of S. 48, STT has been specifically excluded for the purpose of calculation of capital gains. However, STT becomes a cost to the investor, and S. 55 does not make any specific exclusion. Can S.55 override proviso to s. 48 w.r.t. STT.