STT, service tax, etc, be considered as sale value?
ó Vimal Modi
The cost of acquisition of shares would include expenses incurred on purchase of shares like service tax, stamp duty, brokerage, etc., except STT. Similarly, consideration received on sale of shares should be after deduction of service tax, stamp duty, brokerage, etc., except STT.
Section 48 of the Income Tax Act states that while computing the income chargeable under the head Ďcapital gainsí, any payment made for securities transaction is not allowed as expenditure.
* The writer is founder of RSM Astute Consulting Group
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