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Revision of rates of securities transaction tax by amendment to the Finance (No.2) Act, 2004 Levy of Securities Transaction Tax (hereafter referred to as STT) on transaction in specified securities was introduced vide Finance (No.2) Act, 2004. As per the provisions of the STT, recognized stock exchanges, mutual funds (having equity oriented scheme), insurance company or lead merchant banker appointed by the company in respect of an initial public offer or an initial offer are liable to collect
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FAQ :
The Securities Transaction Tax (STT) is a tax levied on transactions in specified securities, introduced by the Finance (No.2) Act, 2004.
The Finance Act 2024 proposes to increase the STT on the sale of futures in securities from 0.0125% to 0.02%, and on the sale of options in securities from 0.0625% to 0.1% of the option premium.
The revised STT rates will be effective from 1st October 2024.
The changes are being made in response to the exponential growth of the derivative (futures and options) markets.
Recognised stock exchanges, mutual funds, insurance companies, or lead merchant bankers appointed by the company are liable to collect the STT and pay it to the Central Government.
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