short term gain shares

[Satbir singh wahi]

there is short term gain on sale of shares after stt. Whether interest paid on purchase of shares is deductible exp, as cost of acquisition.

AI Summary

Deductibility of interest on share purchases may be treated as acquisition cost or business expense affecting capital gains.
Interest on funds used to purchase securities may be treated either as deductible expenditure and added to cost of acquisition for capital gains computation, or as a carrying cost of an investment business to be charged as business expense, with income from dividends treated under other sources and transfer gains under capital gains.