Section 36(1)(xv) - Securities Transaction Tax - Income Tax - Ready Reckoner - Income Tax

Section 36(1)(xv) : Securities Transaction Tax (STT) Any amount of STT paid by the assessee during the previous year on the taxable securities transactions entered into by him in course of his business is allowed as deduction if the income arising from such securities is included under the head PGBP. This is when equity shares/ units of equity oriented funds are held as Stock-in-Trade. The dealers in stock markets and businesses who undertake trading are eligible for this deduction. These transactions must be entered into in the course of business.