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SECURITIES TRANSACTION TAX

Income Tax - Tax Liability in special Circumstances / Specific Cases - 12 - has been levied on the value of taxable securities transactions. The provisions relating to the transaction tax are contained in Chapter VII of the Finance (No. 2) Act, 2004, and shall take effect from October 1, 2004. Charge of security transaction tax:- is applicable in respect of the following transactions- Purchase or sale of an equity share in a company or a derivative or a unit of an equity oriented fund or unit of .....

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zed 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 marketable securities of a like nature in or of any incorporated company or other body corporate. Derivatives Units or any other instrument issued by any collective investment scheme to the investor .....

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value (i.e no shares multiplied by per share price ) Equity oriented Mutual Funds Redemption of units 0.25% Equity shares, Equity mutual fund units- Intra-day. Purchase NIL 0.025% on total value Derivative-sale of option 0.017% Derivative-sale of option, where option is exercised Purchase 0.125% Derivative - Sale of futures 0.017% 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 u .....

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total proceeds of the fund is invested in equity shares in domestic companies, and The fund has been set up under a scheme of mutual fund. For the above purpose, the percentage of equity share holding of the fund shall be computed with reference to the annual average of the monthly averages of the opening and closing figures. Value of Taxable securities:- The value of a taxable securities transaction shall be computed as follows:- In the case of a taxable securities transaction relating to a de .....

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transaction are settled in a recognized stock exchange), the method of determining the price of securities for the aforesaid purpose. Collection and recovery of tax:- is collected as follows:- Every recognized stock exchange shall collect the from every person being a purchaser and seller of taxable securities in that stock exchange. In the case of sale of units to the mutual fund, it shall be collected by the prescribed person in the mutual fund. In the case of initial public offer, it shall be .....

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