Financial Daily from THE HINDU group of publications
Saturday, May 27, 2006
Financial Daily from THE HINDU group of publications Saturday, May 27, 2006 |
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Markets
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Stock Exchanges Industry & Economy - Taxation Our Bureau
Mumbai , May 26 The National Stock Exchange and the Bombay Stock Exchange have raised securities transaction tax (STT) on the transactions executed on the exchanges in derivatives and capital market segments from June 1. The revision is as per the Finance Act 2006, which received Presidential assent on April 18. In the case of the capital market segment, the tax has been revised upward to 0.125 per cent from 0.1 per cent. However, the sale of an equity share in a company or a unit of an equity-oriented fund where the transaction of such sale is entered into in a recognised stock exchange and the contract for the sale of such share or unit is settled otherwise than by the actual delivery or transfer of such share or unit has been revised upward from 0.2 per cent to 0.025 per cent. In the derivatives segment, sale of a derivative where the transaction of such sale is entered into a recognised stock exchange, the rate has been revised from 0.0133 per cent to 0.017 per cent.
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