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of <h1>Deduction of Securities Transaction Tax under Income Tax Act Section 36(1)(xv) for Stock Market Dealers and Trading Businesses.</h1> Section 36(1)(xv) of the Income Tax Act allows for the deduction of Securities Transaction Tax (STT) paid by a business or professional during the previous year on taxable securities transactions, provided the income from these securities is included under the head 'Profits and Gains of Business or Profession' (PGBP). This applies when equity shares or units of equity-oriented funds are held as stock-in-trade. The deduction is available to stock market dealers and businesses engaging in trading, with the condition that these transactions occur in the course of business.
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