To promote further depth of the capital markets through listing of companies, I propose to extend the benefit of tax exemption on long term capital gains to the sale of unlisted securities in an initial public offer. For this purpose, I propose to provide the levy of Securities Transaction Tax (STT) at the rate of 0.2 per cent on such sale of unlisted securities.

Extract From FM Budget speech dated 7-5-2012 on Finance Bill, 2012

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Category : Income Tax (25326)
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Tags : Budget (1474) STT (26)

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