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Sunday, Jul 25, 2004

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Changes in transaction tax

The Finance Minister has announced the following changes to the transaction tax proposed in the Budget on trades on a recognised stock exchange:

  • For non-delivery based equity trades, the transaction tax has been slashed to 0.015 per cent (against the earlier 0.15 per cent).

  • For delivery-based trade in equities, the tax rate remains unchanged at 0.15 per cent. The tax, however, would be equally split between the buyer and seller. Under the original proposal, the buyer was to bear the burden

  • Transaction tax for trades in the futures and options market has been cut to 0.01 per cent (0.15 per cent).

  • Bonds have been exempted from transaction tax.

    BL Research Bureau

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