After the amendment, the entire STT payment will be treated as expenditure against the income from trading of shares. However, for investors who claim their profit as capital gains, there is no such provision. The STT paid won’t be treated as an expenditure and there will be no tax rebate.

How do I download a capital gain statement from a mutual fund?

1. Download Capital Gains Report from your online investment platform

1. Step 1: Open the App and click on you in the bottom right corner.
2. Step 2: After that click on SIP & Report option.
3. Step 3: Now click on capital gain option to get the report.

How do I reduce capital gains tax on a second home?

Ways to reduce your capital gains tax

1. Adjust your profits to reflect any acquisition costs or property improvements.
2. Depreciate the property if it was used as a rental.
3. Rent out your second home.
4. Make your second home your primary residence.
5. Do a 1031 exchange.
6. When in doubt, talk to a professional.

Can we claim STT?

No, Security Transaction Tax (STT) is not refundable. Moreover, Security Transaction Tax (STT) cannot be claimed as part of the acquisition cost, nor will it reduce the capital gains tax liability. The LTCG (long term capital gains tax) on equity is 10% (above Rs. 1 lakh), and STCG (short term capital gains) is 15%.

How are capital gains calculated on residential property?

They also occurred utility bills and building insurance whilst these improvements were being done – I imagine they can form this as part of the CGT calculation (as this didn’t rent the property out).

Is the interest on a capital gain deductible?

In addition to Stepurhan’s response above. The interest will not be deductible in computing the gain. It may have been allowable as a revenue expense. Ditto the utility bills and insurance costs (though probably treated as pre-trading costs and set against income in the first period of rental).

Can You claim interest on a CGT gain?

But to reiterate for the final time – should you go down the CGT route, you cannot claim a deduction for the interest (or any other revenue costs) when computing the gain. All – thanks a lot for your time to contributing to this thread. I am glad I asked the question as I crucially missed out trading aspect.