Lower securities transaction tax in market segments from 1 June: NSE
25 May 2013 12:18 AM GMT
Mumbai: Leading bourse NSE on Friday said that it will scale down securities transaction tax (STT) in the capital market segments from 1 June.
The revision is as per the Finance Act 2013, which received Presidential assent on 10 May. Introduced in 2004, STT is levied on the sale and purchase of equities.
In the case of sale of securities in futures segment, the tax has been revised downward to 0.01 per cent, from 0.017 per cent.
'We would like to inform you that as per the Finance Act 2013, which received the Presidential assent on 10 May, 2013, rates of levy of STT with effect from June 1, 2013 are revised,' NSE (National Stock Exchange) said in a circular.
Regarding the sale of a unit of an equity oriented fund, where the transaction is entered into on a recognised bourse, and the contract for the sale of such share is settled by the actual delivery or transfer of such share, STT has been revised downward from 0.1 per cent to 0.001 per cent. In case of purchase of a unit of an equity oriented fund, where the transaction is entered into in a recognised stock exchange and the contract for the purchase of such unit is settled by the actual delivery, NSE has done away the tax from the existing 0.1 per cent. In case of other transactions, there would not be any change in STT rate. PTI
The revision is as per the Finance Act 2013, which received Presidential assent on 10 May. Introduced in 2004, STT is levied on the sale and purchase of equities.
In the case of sale of securities in futures segment, the tax has been revised downward to 0.01 per cent, from 0.017 per cent.
'We would like to inform you that as per the Finance Act 2013, which received the Presidential assent on 10 May, 2013, rates of levy of STT with effect from June 1, 2013 are revised,' NSE (National Stock Exchange) said in a circular.
Regarding the sale of a unit of an equity oriented fund, where the transaction is entered into on a recognised bourse, and the contract for the sale of such share is settled by the actual delivery or transfer of such share, STT has been revised downward from 0.1 per cent to 0.001 per cent. In case of purchase of a unit of an equity oriented fund, where the transaction is entered into in a recognised stock exchange and the contract for the purchase of such unit is settled by the actual delivery, NSE has done away the tax from the existing 0.1 per cent. In case of other transactions, there would not be any change in STT rate. PTI
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