Clause 119 - Amendment of Act 23 of 2004. - Finance Bill, 2008

119. In the Finance (No. 2) Act, 2004, with effect from the 1 st day of June, 2008,— ( i ) in section 98, in the Table, for serial number 4 and the entries relating thereto, the following serial number and the entries shall respectively be substituted, namely:— Sl. No. Taxable securities transaction Rate Payable by (1) (2) (3) (4) ''4 ( a ) Sale of an option in securities 0.017 per cent. Seller ( b ) Sale of an option in securities, where option is exercised 0.125 per cent. Purchaser ( c ) Sale of a futures in securities 0.017 per cent. Seller"; ( ii ) in section 99, for clause ( a ), the following clause shall be substituted, namely:— "( a ) in the case of a taxable securities transaction relating to an option in securities, shall be— ( i ) the option premium, in respect of transaction at item ( a ) of serial number 4 of the Table in section 98; ( ii ) the settlement price, in respect of transaction at item ( b ) of serial number 4 of the Table in section 98;".