Expense limits & deductions allowed on cost of acquisition sale of shares

Vijay (Tax payer) (27 Points)

22 July 2018  

Hi, I have a few quesitons on the computaiton of capital gains arising out of purchase and sale of shares - STCG:

1. I have subscribed to a professional recommedndation service [equitymaster.com] for advice on buying and selling of shares.  Can I claim the fee I pay to them as expense on sale and purchase of shares?

2. Are there any limits on what is the maximum expense that can be claimed on the transfer of shares? This quesiton is probably only relevant if the answer to the above question is Yes as it may happen that I have made a profit of 5000 in selling shares but paid 7000 as Financial advisor fee. Can I claim a loss in this case?

Thanks