Added on : 2023-03-24 15:15:50
The Centre on Friday hiked the securities transaction tax (STT) on the sale of future and option contracts by up to 25 per cent. In the amendments to the Finance Bill, 2023, the STT has been hiked by 23.52 per cent on the sale of options and 25 per cent on the sale of futures contracts.
STT was introduced in 2004 and is levied on transactions involving different types of securities through the stock exchange route. All stock market transactions that involve equity or equity derivatives are liable under STT, including mutual fund transactions.