Short deduction / collection of Security Transaction Tax (STT) - ...

High Court Rules NSE Not Liable for Short Deduction of Security Transaction Tax in Broker Trades.

March 16, 2020

Case Laws     Income Tax     HC

Short deduction / collection of Security Transaction Tax (STT) - Liability of National Stock Exchange (NSE) - On occasions where client codes for institutional trades were not modified by the broker, the trades were treated as squared off trades and a lower STT was levied. This resulted in the exchange charging a lower STT from the member broker while the member broker collected a higher delivery based STT from the client - under the statute NSE was not liable for any alleged short deduction of STT - HC

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