119. In the Finance (No. 2) Act, 2004, with effect from the 1st 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;".