STT Collections

STT raised as Finance Bill passes without discussion

The finance ministry clarified on Friday that the securities transaction tax (STT) on selling options has been raised to 0.062 per cent from 0.05 per cent and not from 0.017 per cent to 0.021 per cent

STT was introduced in 2004 and is levied on transactions involving different types of securities through the stock exchange route

Finance Bill 2023: Debt funds with less than or equal to 35 per cent invested in equity shares will be taxed at the investors' income tax slab and treated as short-term capital gains

Also seeks relaxations in set-off provisions for carry forward business loss

Gupta added that if the trend continues, direct tax collections for FY23 could exceed the budget target of Rs 14.20 trillion

Securities transaction tax (STT), which is levied on purchase and sale of equity shares and their derivative contracts, has emerged as a healthy source of income for the government

The sharp increase in budget estimate for the next fiscal could be on account of government's confidence in the securities market

The biggest positive trigger for Dalal Street in the upcoming Union Budget 2022 could be abolition of Securities Transaction Tax (STT).

The investment industry will benefit if the Securities Transaction Tax is abolished, says Nikhil Kamath, co-founder of Zerodha, as part of his FY23 Budget expectations

Collections already stand at Rs 12K crore, compared to Budget target of Rs 12.5K crore

The STT is a direct tax payable on the value of taxable securities transactions done through a stock exchange

The Income Tax department has got a record of Rs 5373 crore in the head of STT collection during the first quarter of financial year.

The finance minister announced a slew of measures to boost the slowing Indian economy

Securities transaction tax is levied on all stock market transactions. The tax is in the range of 0.017% and 0.125% of the transaction amount