Sir,
I am a Long Term investor earning income from Long Term Capital Gain for purchase & sale of Equity Shares more than 12th Months holding, paid STT on the both side purchase & sale can I add STT as cost of acquisition on purchase & deduct STT as expenditure on sales side.
need help.
6 Replies
Lotus Agrawal
(Practice)
(1361 Points)
Replied 09 May 2021
In my opinion If you are a trader you can claim it as expende but if you are an investor you can not claim it as expenditure.
veerendar singh
(tax consultant)
(3301 Points)
Replied 09 May 2021
No. dont claim as expenses on either side.
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 09 May 2021
Since you are an investor, you cannot claim STT as an expense. Further, since LTCG is exempt from tax (up to Rs.1 lac), expense incurred w.r.t. long term capital assets cannot be adjusted against income chargeable to tax.
sukumar ghosh
(109 Points)
Replied 11 May 2021
Sir,
l am an investor & all purchases are investment my intention is earning divided and also Long Term appreciation of value.
l am an investor & all purchases are investment my intention is earning divided and also Long Term appreciation of value.
Lotus Agrawal
(Practice)
(1361 Points)
Replied 11 May 2021
In that case you cannot claim STT as expense.
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