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NISM Hyderabad : Securities transaction tax : AS Chakravarthy

AS Chakravarthy NCFM Hyderabad : Stock Market Training Institute


Securities transaction tax (STT)

Securities transaction tax (STT) was originally introduced in 2004 by Mr. P. Chidambaram Former Finance Minister, to stop tax avoidance of capital gains tax.

The government reduced this tax in the 2013 budget after a lot of protests for years by the brokers and the trading community. The revised STT for delivery-based equity trading is 0.1% on the turnover. For Futures, the tax has been reduced to 0.01% on the sell-side only.

Securities Transaction Tax (STT) is a tax payable in India on the value of securities (excluding commodities and currency) transacted through a recognized stock exchange. As of 2016, it is 0.1% for delivery based equity trading.

Securities transaction tax is a direct tax.

According to the Securities Contracts (Regulation) Act, 1956, STT would be applicable on following securities.

==> Shares, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or other body corporate
==> Derivatives
==> Units or any other instrument issued by any collective investment scheme to the investors in such schemes
==> Security receipt as defined in section 2(zg) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
==> Government securities of equity nature
==> Rights or interest in securities
==> Equity-oriented mutual funds
==> STT is not applicable for any off-market transaction

Securities transaction tax on Equity Derivatives segment (Futures and Options)

As per Chapter VII of the Finance (No. 2) Act, 2004, Securities Transaction Tax (STT) is levied on all transactions of sale and/or purchase of equity shares and units of equity oriented fund and sale of derivatives entered into in a recognized stock exchange. As per Finance Act 2008, the following STT rates are applicable in relation to sale of a derivative, where the transaction of such sale in entered into in a recognized stock exchange.

    1. Sale of a futures in securities, Securities transaction Rate 0.01% Payable by Seller
    2. Sale of an option in securities, Securities transaction Rate 0.05% Payable by Seller
    3 Sale of an option in securities where option is exercised, Securities Transaction Tax 0.125% Payable by Buyer.

AS Chakravarthy NCFM Hyderabad : Stock Market Training Institute