https://www.taxtmi.com/article/detailed?id=9564 STT functions as a levy that substitutes for or reduces income tax on securities transactions, is collected irrespective of profit or loss and is not allowed as cost or transfer expense for capital gains; accordingly STT should be treated as tax collected on behalf of the revenue and granted credit like TDS/TCS or advance tax, with excess refundable against total tax paid. en-us Mon, 30 Nov 2020 10:02:59 +0530 Mon, 30 Nov 2020 10:20:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9564 STT functions as a levy that substitutes for or reduces income tax on securities transactions, is collected irrespective of profit or loss and is not allowed as cost or transfer expense for capital gains; accordingly STT should be treated as tax collected on behalf of the revenue and granted credit like TDS/TCS or advance tax, with excess refundable against total tax paid. Articles Income Tax Mon, 30 Nov 2020 10:02:59 +0530 https://www.taxtmi.com/article/detailed?id=9564