Securities Transaction Tax news

Budget 2012 – Govt likely to reduce STT in Budget

The Finance Ministry is likely to reduce Securities Transaction Tax (STT) on equity trade in the forthcoming Budget in a bid to boost the capital market despite pressure to improve revenue collection. The ministry, however, may not revisit the issue of Commodities Transaction Tax (CTT), which was aborted in 2009 after protests by industry...

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Posted Under: Income Tax |

I-T department issues notices to Brokers, corporate investors for 'under-reporting' of income

The Income Tax department is learnt to have sent notices to over a dozen proprietary stock trading firms and corporate investors, for alleged ‘under-reporting’ of taxable income for assessment years 2006-07 and 2007-08 ....

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Posted Under: Income Tax |

17.85 Percent Increase in Direct Tax Collections During April-November Crosses 50 percent of be Target of Rs.4,30,000

During the period April-November 2010, net direct tax collections stood at Rs.2,16,628 crore, up from Rs.1,83,822 crore during the same period last fiscal, registering a growth of 17.85 percent and crossing 50 percent of the BE target of Rs.4,30,000 crore for fiscal 2010-11....

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Posted Under: Income Tax |

Net Direct Tax Collections Register 19.09 Percent Growth

Net direct tax collections during the period April-September 2010 stood at Rs.1,81,758 crore, up from Rs.1,52,625 crore in the same period last fiscal, registering a growth of 19.09 percent in H-1 against the Budgeted annual growth target of 13.67 pe...

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Posted Under: Income Tax |

STT may not be scrapped under the DTC Regime

The securities transaction tax (STT) is here to stay even under the proposed new regime for direct taxes slated to come into force from April 1 next year. But the rate of STT now hinges on the firming up of a revised taxation regime for capital gains and the flow of funds to the capital market, a senior Finance Ministry official said....

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Posted Under: Income Tax |

Biggest Ever Ponzi scheme -The one which was run by Bernie Madoff

Bernie Madoff's game got over some time in March 2009. His investment advisory business, Madoff admitted, was a gigantic Ponzi scheme. He had defrauded thousands of high net-worth investors of billions of dollars. This was the mother of all Ponzi schemes and Madoff has been sentenced to 150 years in prison, the maximum for felony. The dam...

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Posted Under: Income Tax |

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