I have a gross short term realised gains for this financial year, but when I deduct the total DP charges for the year the net gains goes down significantly. So can I minus the DP charges and include only the net Short term gains while filing the ITR?
Brokerage + All charges like STT, ETT, etc + DP can be negated from the profits. You can even show Bill of Internet and other charges like (Annual AMC, charges if you subscribe to any advisory or trading software etc etc) and deduct them from your profit if you show trading as a business while filing ITR.
Thank you for your response. But I want to confirm, can DP charges be deducted from STCG while filing ITR.
@Quicko Can you.
Short Term Capital Gain (STCG) is covered under the Capital Gain Income Head. Hence you can claim all the transfer expenses except STT (Securities Transaction Tax) while filing ITR.
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I am more than sure that it’s possible, but it clearly shows that it could be done really on so many levels out there. Care to share it all with me or not? I am not willing to make it that further, but you should ask your CPA just to be sure and not here.