Hence, securities include all of the above the purpose of STT levy that are traded on recognized stock exchange. Off-market transactions are out of the purview of STT. Derivative contracts are generally settled in cash which means, stocks are not physically delivered and only the profits are paid and received by the contracting parties. These transactions, as given in the table above, are subject to an STT levy of 0. However, no clarity emerged on the rate of STT that would apply to these kinds of transactions.
Further, for such transactions, the stock exchanges began to levy an STT of 0. The CBDT, in response, has issued a clarification dated 27 August , where it has observed that where a derivative contract is being settled by physical delivery of shares, such transaction would be similar to a transaction in equity shares where the contract is settled by actual delivery of shares.
Therefore, the STT rate as applicable to delivery based equity transactions would apply to such derivative transactions too.
Note that these rates are decided by the central government and the tax is not levied on any off-market transaction. Like us on Facebook and follow us on Twitter. Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates. What is Securities Transaction Tax? Your personal financial situation is unique, and any information and advice obtained through the facilities may not be appropriate for your situation.
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The Website will not be responsible for any liability arising out of delay in providing any information on the Website. Compliance with the Law. It is applied on the value of transaction placed by the traders or investor. You can look at a clear break-up of taxes in the contract notes issued by your broker. STT on Intraday Trades. STT is charged on the sell side of the transaction at 0.
Let us understand this with an example:. A trader buys shares of Tata Chemicals Ltd. Here, STT will be Rs STT is charged on both legs , i. Trader buys shares of Tata Chemicals Ltd. STT will be Rs. So the total STT will be Rs An important benefit of the STT is that, if STT is paid on transactions previously, capital gains on securities transactions gets charged at a preferential rate. STT on Futures Transactions. STT will be charged on the sell side turnover of the transaction, regardless of whether the trade is Intraday or Positional.
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