IT : A stock broker is entitled to deduction as bad debt of amount unrecoverable from clients as reduced by sum recoverable on sale of shares kept with broker

IT : A stock broker is entitled to deduction as bad debt of amount unrecoverable from clients as reduced by sum recoverable on sale of shares kept with broker

IT : A stock broker is entitled to deduction as bad debt of amount

unrecoverable from clients as reduced by sum recoverable on sale of shares kept with broker

IT : Transaction charges paid by assessee, stock broker, to stock exchange would be liable to TDS under section 194J; and even if such amount was paid during year and no amount was outstanding at end of year, disallowance could be made under section 40(a)(ia)

[2014] 49 taxmann.com 439 (Mumbai - Trib.)

IN THE ITAT MUMBAI BENCH 'D'

Assistant Commissioner of Income-tax

v.

Rishti Stock & Shares (P.) Ltd.