TMI BlogSecurities Transaction TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... hares under an offer for sale to the public included in an initial public offer ( applicable from July 1, 2012 ). Sale of unlisted units of a business trust by an holder of such units which were acquired in consideration of a transfer referred to in section 47(xvii) of the income-tax Act under an offer for sale to the public included in an initial offer and where such units are subsequently listed on a recognized stock exchange (applicable from June 1, 2015). Sale of unit of an equity oriented fund to the mutual fund. As per of the Securities Contracts (Regulation) Act, 1956 , STT would be applicable for securities of the following nature. Shares, scrips, stocks, bonds, debentures, debenture stock or other marketab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sub-clause(ab) is inserted in clause (13) of section 97 with effect from 1-6-2015 to provide that taxable securities transaction shall also include sale of unlisted units of a business trust by any holder of such units which were acquired in consideration of a transfer referred to in clause (xvii) of section 47 of the Income-tax Act, 1961 under an offer for sale to the public included in an initial offer and where such units are subsequently listed on a recognised stock exchange purchase 0.2% Equity oriented fund:- If the following two conditions are satisfied, the fund is known as equity oriented fund - More than 65 per cent (up to May 31, 2006-50 %) of the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cted by the prescribed person in the mutual fund. In the case of initial public offer, it shall be collected by the lead merchant banker. Deposit of tax:- The amount of securities transaction tax collected by the aforesaid persons has to be paid to the credit of the Government by seventh day of the month following the month in which the securities transaction tax is collected. Return:- A recognized stock exchange/prescribed person in every mutual fund shall be responsible for submission of a return in the prescribed form (Form No. 1 for stock exchange, Form No. 2 for mutual fund) of all taxable securities transactions entered into during a financial year on that stock exchange or, as the case may be, in respect of all tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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