Form 10 DB was a declaration as proof of securities transaction payments on the purchase or sale of shares and units. Now STT is allowed as business expense u/s 36(1) which is explained in posting titled Deduction of securties transaction tax (STT) from business or capital gains simplified !
Can You Deduct STT As Expense From Share Sale Income ?
December 5, 2009 by
The income from share transaction can occur in following forms 1. Share trading 2. Speculative trade 3. F & O transactions 4. Capital Gains Allowance of STT for First three types (1, 2 & 3) From Assessment Year Asst Year 2009-10 (FY 2008-09 ) , Securities Transaction Tax (STT) is defined as an expense u/s
Can The Loss From F & O Be Adjusted With Brokerage Earned?
August 16, 2008 by
I am a sub broker.I am getting brokerage from the broker and they are deducting 10% TDS from me.I have huge loss this year in Share trading also in Futures& options.I am not a long term investor.Can we offset the loss from futures against the income received as brokerage.How to account the short term loss...
Can You Explain Dividend & Bonus Stripping ?
November 9, 2007 by
“”Can you please explain the concept of tax planning by dividend stripping? asks G.V.Krishna Mohan. The dividend stripping is nothing but getting tax free income in the form of dividend and creating capital loss at the same time.The total effect of such device on your income is handsome saving of tax .The dividend is tax free whereas...
Does SIP Help In Saving Tax?
June 21, 2007 by
This is a question on taxation related to SIP on Mutual Funds. As I understand, capital gains on equity-oriented mutual funds are not taxable if the units were sold after one year from purchase & the STT was paid. Suppose, I choose to go with a SIP and invest from January 2006 to December 2006...
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