securities transaction tax

A assessee suffers Securities transaction tax (STT) regarding transaction is cash market as well as futures trading.He treates cash maret transaction as capital gain and futures as business income. so while paying tax on future trading he can adjust the STT paid for the tax payable and balance he will pay. My question is whether he can take credit of STT paid on cash market transactions while paying tax on futures trading

Example:1) STT paid in capital market ie cash market Rs.15000/-

              2) STT paid in derivatives market ie futures trading Rs.10000/-

              3)Income tax on futures trading Rs.50000/-

 So, what is the tax payable ?

Replies (1)
No difference between STT and on Futures and cash markets. The main differnce is to be made from the point whether your holding for business or Investment. If ur holding for business/trading purpose then you can claim STT under Sec 88E of the IT Act

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
Featured 12 September 2026
Assistant Manager - Finance & Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details