Claiming STT charges

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Last Comment 2024-06-09

2024-06-06

Hi,

Can someone please explain when STT charges can be deducted as business income.

I have some STCG (short term capital gains), and correspondingly have paid huge STT charges (almost 10% of gain). Can these STT charges be deducted as business expenses (and pay 15% tax on STCG)? I have some gains/losses in Intraday and FNO as well.

Thanks,

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https://www.desidime.com/comments/permalink/10119858

B3A5T

2024-06-06

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Capital Gains - No.

F&O - Yes.

Intraday - IDK.

https://www.desidime.com/comments/permalink/10120062

posiedon

2024-06-06

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in STCG can not clain STT.

you can claim STT if you filr ITR-3 with trading as a business with P&L and balance sheet only for intraday equities and Futures and options and commodity futures.

https://www.desidime.com/comments/permalink/10120089

DemonSlayer

2024-06-06

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Can brokerage be shown as loss and set off against stcg gains?

https://www.desidime.com/comments/permalink/10120276

homedimer

2024-06-06

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i dont think so but i am not sure

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https://www.desidime.com/comments/permalink/10124079

Agni007

2024-06-09

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I file itr2 through quicko and they deduct expenses like stt and brokerage amc etc as needed... I think that goes into cost of maintaining the securities head... Cannot explain further as it's automated...