Hello
Is STT in force? what are the securities/transaction which attracts such tax?
Its bit urgent
2 Replies
Lucky Jain
(student)
(210 Points)
Replied 11 October 2009
stt is security transaction tax basically covered in sec 36 paid 4 taxable securities 4 trasactions entered in py..
in case of long term capital gain 4m sale of share on which stt is paid thn under sec 10 (38) such ltcg are xempt
Juzer Sadikot
(CA - innovative solutions for Imports and Exports)
(1309 Points)
Replied 11 October 2009
Dear Mr. Jems, A Securities Transaction Tax (STT) has been introduced on certain securities transactions, effective from a notified date (1st October 2004) under Chapter VII of the Finance Act. Transactions of Equity Shares and units of equity oriented funds are chargeable to STT. Request you to be pin point for question, pasting/typing whole of thing may require much time. Come out with what exactly is in your mind.
It is very much in force with minor amendment.
Thanks
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