Regarding disallowance of Security Transaction Tax - The ...

Broker's Security Transaction Tax Collection Disallowed u/s 88E of Income Tax Act.

July 6, 2012

Case Laws Income Tax AT

Regarding disallowance of Security Transaction Tax - The assessee is only a broker who has collected STT on behalf of the stock exchanges and has paid the same to the latter - STT is required to be excluded u/s 88E - AT

View Source

← Previous Next →

Regarding disallowance of Security Transaction Tax - The ...

Broker's Security Transaction Tax Collection Disallowed u/s 88E of Income Tax Act.

July 6, 2012

Case Laws Income Tax AT

You may also like:

Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Direct tax collections for FY 2023-24 as of 17.06.2023 show net collections of Rs. 3,79,760 crore, a growth of 11.18% compared to the preceding year. - Gross collections...

Short deduction / collection of Security Transaction Tax (STT) - Liability of National Stock Exchange (NSE) - On occasions where client codes for institutional trades...

The High Court held that by virtue of the non-obstante clause in the Kerala General Sales Tax Act, 1963 (KGST Act), it creates a first charge on the property of the...

Capital gain vs Business income - The income from share transactions has been rightly assessed as business income, however, Security Transaction tax (STT) has to be...

Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2002.

MAT - deduction of Rebate u/s 88E while calculating the tax liability of the assessee for minimum alternative tax u/s 115JB - when the total income is assessed and the...

Addition made towards profit in money market operations - in this case the physical delivery has not taken place and therefore the transactions of sale and purchase of...

Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

Exemption from GST - Collection of tax at source u/s 52 - Electronic commerce operator - Exclusion of "Agent" - Exemption under Notification No. 52/2018 - The AAR...

Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...

The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

This notification amends the Income-tax Rules, 1962, introducing changes related to tax collection at source u/s 206C of the Income-tax Act, 1961. The key amendments...

Quick Updates: