Can I claim my LIC policy online?
No, you cannot claim the Securities Transaction Tax (STT) as a deduction when computing your capital gains in India. Under Section 40(a)(ib) of the Income Tax Act, STT is specifically disallowed as an expense. This means that when you calculate your taxable capital gains from the sale of equity shares or units of equity-oriented mutual funds, you must not subtract the STT paid on the transaction from your sale consideration. You can only deduct costs that are directly related to the transfer and are not specifically disallowed by the tax law, but STT is explicitly excluded from this benefit, regardless of whether you are an individual investor or a business entity.
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