The Finance Bill 2013-14 proposes reduction in the rates of Securities Transaction Tax (STT) in respect of certain transactions. Securities Transaction Tax (STT) on transactions in specified securities was introduced vide Finance (No.2) Act, 2004.It is proposed to amend section 98 of the Finance (No.2) Act, 2004 to reduce STT rates in the taxable securities transactions as indicated hereunder:-
TABLE
|
Sl.No. |
Nature of taxable securities transaction |
Payable by |
Existing Rates |
Proposed Rates |
|
(1) |
(2) |
(3) |
(4) |
(5) |
|
Delivery based purchase of units of an equity
oriented fund entered into in a recognised stock exchange |
Purchaser |
0.1 |
Nil |
|
Delivery based sale of
units of an equity oriented fund entered into in a recognised stock exchange |
Seller |
0.1 |
0.001 |
|
Sale of a futures in securities | Seller |
0.0 17 |
0.01 |
|
Sale of a unit of an equity oriented fund to the mutual fund | Seller |
0.25 |
0.00 1 |
The proposed amendments in the rates of securities transaction tax will be effective from 1st June, 2013 and will accordingly apply to any transaction made on or after that date.
in point 1.3 as per last finance bill it includes sale of option will b taxable at the rate .017 and in this budget is silent on sale of option so i think it also cover sale of option