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TMI Blogshort term gain sharesX X X X Extracts X X X X X X X X Extracts X X X X ..... 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. - Reply By CA Rachit Agarwal - The Reply = Interest paid f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the purchase of securities is deductible expenditure. Interest Cost can be added to the cost of acquisitions. Refer Seciton 48(ii) - Reply By DEV KUMAR KOTHARI - The Reply = Investment activity ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is a business being adventure in nature of commerce ( and not trade). So income should be computed under applicable heads- business, other sources and capital gains. Cost of carrying investments like ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest, DP charges, insurance, staff expenses to maintain and look after investment activity should go under head business, recurring incomes like hedging gains, security commission ( if shares ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e provided as security to third party), security lending income will fall under business, dividend u/h OS, and income on transfer of shares u/h CG. - short term gain shares - Query Started By: - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... satbir singh wahi Dated:- 25-11-2010 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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