CBDT Told to Clear Ambiguity over STT on Physical Shares : 24-08-2018

The Bombay High Court today asked the Central Board of Direct Taxes to clear the ambiguity over the securities transactions tax (STT) rate on physical delivery of shares in the equity derivatives segment. A division bench of Justices B R Gavai and M S Karnik was hearing a petition filed by the Association of National Exchanges Members of India against a July 17 circular issued by the NSE. The circular directed the members in the equity derivatives segment to collect the STT on physical settlement of stock derivatives at the rate of 0.10% with effect from July 26.

Source : PTI

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