Securities transaction tax deductibility restricted; payments are not deductible when computing capital gains under the amended provision. No deduction is permitted for amounts paid by way of securities transaction tax when computing income chargeable under the head Capital gains; the Finance ... Summary
Securities transaction tax deductibility restricted; payments are not deductible when computing capital gains under the amended provision.
No deduction is permitted for amounts paid by way of securities transaction tax when computing income chargeable under the head Capital gains; the Finance (No. 2) Act, 2004 inserts a proviso in section 48 disallowing deduction in respect of sums paid as securities transaction tax under Chapter VII of that Act.
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