Quick Summary
The National Stock Exchange of India Ltd (NSE) has issued a circular directing brokers and sub-brokers to disclose details of any excess Securities Transaction Tax (STT) collected from investors and retained for the financial year 2023-24 and earlier years. The exchange has also asked members to rem
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FAQ :
The NSE circular directs brokers and sub-brokers to disclose and remit any excess Securities Transaction Tax (STT) collected from investors for the financial year 2023-24 and earlier.
The circular was issued following instructions from the Income Tax Department, which noted that some market intermediaries had collected more STT than required but had not deposited the excess amount with the government.
Brokers and sub-brokers must comply with the instructions within seven days from the date of the circular's publication.
If brokers delay remitting the excess STT, they must pay interest at a rate of 1% for every month of delay.
Once the NSE receives the excess STT and any applicable interest from brokers, it will deposit the total amount into the government account after informing the Income Tax Department.
Yes, this latest circular extends the compliance requirement to cover FY2023-24 and earlier periods, following a similar directive issued in March 2025 for FY2022-23 and prior years.
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