Securities Transaction Tax (STT) Reduced
The Finance Bill 2013-14 proposes reduction in the rates of
Securities Transaction Tax (STT) in respect of certain
transactions. Presenting the Union Budget in
the Lok Sabha today, the Finance Minister Shri P.Chidambaram proposed
the following reductions in the rates of STT:-
Equity futures: From 0.017 to 0.01 per cent
MF/ETF redemptions at fund counters: From 0.25 to 0.001
percent
MF/ETF purchase/sale on exchanges: From 0.1
to 0.001 percent, only on the seller
The Finance Minister noted STT has
a stabilising effect on transactions and he had proposed reductions
in the rate of tax taking note of the changes and shifts in the market.
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