TMI BlogSecurities Transaction Tax Rules, 2004X X X X Extracts X X X X X X X X Extracts X X X X ..... nitions 2. (1) In these rules, unless the context otherwise requires,- (a) Act means the Finance (No.2) Act, 2004 ( 23 of 2004); (b) authorised bank means any bank as may be appointed by the Reserve Bank of India as its agent under the provisions of sub-section (1) of section 45 of the Reserve Bank of India Act, 1934 (2 of 1934); (c) Form means a Form set out in the Appendix to these rules. (2) Words and expressions used and not defined in these rules but defined in the Act, or the Securities Contracts (Regulation) Act, 1956, or the Income-tax Act, 1961, shall have the meanings respectively assigned to them in those Acts. Value of taxable securities transaction 3. For the purposes of clause (c) of section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tock exchange, shall be made with reference to the trades executed in the equity share or unit under a particular client Code through that member; (b) where the equity share or unit is purchased or sold by a person in the trade-for-trade settlement mode, the value of the taxable securities transaction shall be the price at which the equity share or unit is purchased or sold; (c) where the equity share or unit is purchased in the auction settlement mode, the value of the taxable securities transaction shall be the volume weighted average price of the equity share or unit, determined in the manner specified in clause (a), in respect of all trades in that equity share or unit carried out in the auction session; (d) where the equity sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount of refund due, under the provisions of Chapter VII of the Act shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise then, if such part is fifty paise or more, it shall be increased to one rupee and if such part is less than fifty paise it shall be ignored. Person responsible for collection and payment of securities transaction tax in case of a Mutual Fund. 5. In the case of a Mutual Fund, the person responsible for collection and payment of securities transaction tax in accordance with sub-sections (2), (3) and (4) of section 100 of the Act, shall be the trustee of the Fund, or such other person managing the affairs of the Mutual Fund as may be duly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s is copied using data compression or backup software utility, the corresponding software utility or procedure for its decompression or restoration shall also be furnished; (c) the return shall be accompanied by a certificate regarding clean and virus free data. (3) In the case of a Mutual Fund, the return referred to in sub-rule (1) shall be furnished by the trustee of the Fund, or such other person managing the affairs of the Mutual Fund as may be duly authorised by the trustee in this behalf. (4) The return of taxable securities transaction entered into during a financial year shall be furnished on or before the 30 th June immediately following that financial year. Return by whom to be signed. 8. The return und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amount, refund the same to the concerned person from whom it was collected. Form of appeal to Commissioner of Income-tax (Appeals). 12. (1) An appeal under sub-section (1) of section 110 to the Commissioner (Appeals) shall be made in Form No. 4. (2) The form of appeal prescribed by sub-rule (1), the grounds of appeal and the form of verification appended thereto relating to an assessee shall be signed and verified by the person who is authorised to sign the return of taxable securities transactions under rule 8, as applicable to the assessee. Form of appeal to Appellate Tribunal. 13. An appeal under sub-section (1) or sub-section (2) of section 111 of the Act to the Appellate Tribunal shall be made in Form No. 5, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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