Amendment of section 98 of Act 23 of 2004.
153. In section 98 of the Finance (No. 2) Act, 2004, in the Table, with effect from the 1st day of July, 2012,—
(i) against Sl. No. 1, under column (3) relating to rate, for the figures and words "0.125 per cent.", the figures and words "0.1 per cent." shall be substituted;
(ii) against Sl. No. 2, under column (3) relating to rate, for the figures and words "0.125 per cent.", the figures and words "0.1 per cent." shall be substituted.
Notes on Clauses:
Clause 153 of the Bill seeks to amend section 98 of the Finance (No. 2) Act, 2004 relating to charge of securities transaction tax. It is proposed to amend the Table below the said section which specifies the rates at which the securities transaction tax shall be charged. It is proposed to reduce the rates of securities transaction tax from 0.125 per cent. to 0.1 per cent. in respect of the taxable securities transactions of the equity shares or units of equity oriented fund of the nature referred to in column (2) of the said Table against serial numbers 1 and 2 thereof.
This amendment will take effect from 1st July, 2012.
