What will be the treatment for the Securities transaction tax paid on purchase and sales of share/units?
What will be the treatment for the Securities transaction tax paid on purchase and sales of share/units?
TREATMENT OF STT DEPENDS ON NATURE OF INCOME,
.IN CASE OF SALE/PURCHASE OF SHARES ETC.. ON WHICH STT IS PAID ARE SHOWN AS CAPITAL GAIN,THEN STT IS NOT ALLOWED AS DEDUCTION.
THAT MEANS AT THE TIME OF PURCHASE IT IS NOT ADDED TO COST OF PURCHASE OR AT THE TIME OF SALE IT IS NOT REDUCED FROM THE SALE PRICE,
IF THE INCOME IS SHOWN UNDER BUSINESS OR PROFESSION STT IS DEDUCTIBLE U/S 36
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If it is related to capital gain, will the amount paid as STT be treated as dead loss?
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