Income Tax : Get a comprehensive guide to Securities Transaction Tax (STT). Learn about its history, applicability, charges, and more....
Income Tax : Commodities Transaction Tax (C.T.T.), is a tax payable to the central government on trades made on commodities. CTT was first prop...
Income Tax : As per the existing provisions section 99 of the Finance (No.2) Act, 2004, the value of taxable securities transaction in respect ...
Income Tax : Securities Transaction Tax (STT), is the tax deduction that is applied to all your equity transactions. Introduced in the 2004 Uni...
Finance : For an investor, brokerage charges form a large part of his share trading experience and as an investor one must be vigilant about...
Income Tax : The Finance (No.2) Act, 2004 revision increases STT rates on derivatives starting October 1, 2024. Key changes include updated rat...
Income Tax : The Finance Ministry is likely to reduce Securities Transaction Tax (STT) on equity trade in the forthcoming Budget in a bid to bo...
Income Tax : The Income Tax department is learnt to have sent notices to over a dozen proprietary stock trading firms and corporate investors, ...
Income Tax : 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...
Income Tax : 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 sam...
Income Tax : The fact that shares were traded on stock exchange after paying securities transaction tax, and that money had been received throu...
Income Tax : Assessing Officer comes to a conclusion that the assessee had failed to collect the STT or had failed to pay such STT to the credi...
Income Tax : Association of National Exchanges Members of India Vs SEBI (Bombay High Court) CBDT has clarified that where a derivative contract...
Securities Transaction Tax (STT) on transactions in specified securities was introduced vide Finance (No.2) Act, 2004. It is proposed to reduce STT in Cash Delivery segment from the existing 0.125% to 0.1%. The proposed new rates along with details of old rates are given in the following table.
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, sources said, adding that the government is keen to go ahead with the broader policy of reducing the cost of financial transactions.
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 .
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.
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
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.
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 damage when the dust settled was calculated at $65 billion.
The Securities Transaction Tax (STT) was introduced into the income-tax code by the Finance (No. 2) Act, 2004, taking effect from April 1, 2005. It was expected to give a major boost to both the income-tax department in terms of revenue and the equity market. When STT was paid on share transactions, no liability for long-term capital gains tax arose. Short-term capital gains were taxed at 10 per cent if STT was paid. This was the position till March 31, 2008.
