Claiming STT charges
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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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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.
Can brokerage be shown as loss and set off against stcg gains?
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...
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Capital Gains - No.
F&O - Yes.
Intraday - IDK.