In this article, get 10 most important questions on the Money & Banking topic of Indian Economy Aspirants of UPSC Civil Services Prelims 2021 … Good Morning Friends, We are Posting Today’s Prelims Marathon . Share trading on the stock market is subject to this tax. Securities and Transaction Tax [STT] It is a tax levied at the time of purchase and sale of securities listed on stock exchanges in India. Another type of Income Tax, the Corporate Tax is levied on the earning of businesses. Direct tax-A direct tax is generally a tax paid directly to the government by the person on whom it is imposed.Eg-. Budget 2019-20: Simpler Securities Transaction Tax cheers derivative traders . However, transactions in such long-term capital assets are liable to securities transaction tax (STT). An Indian firm whose turnover is less than Rs. 1. This regime is seen as inherently biased against manufacturing and has encouraged diversion of investment to financial assets. Securities Transaction Tax (STT): STT is a tax levied on all transactions done on the stock exchanges. Sources: the Hindu. According to tax experts, some relief may also be provided on short-term capital gains (STCG) and securities transaction tax (STT). As per reports, the … Written by: ForumIAS Posted on November 3rd, 2020 Last modified on November 3rd, 2020 Comments Views : 4,860. The tax makes markets unattractive as it leads to significant taxation of corporate earnings, they argue. Wealth Tax. Banking Cash Transaction Tax (BCTT) V. Securities Transaction Tax (STT) 1. It is governed by the Securities Transaction Tax Act (STT Act). This tax was introduced in Union Budget 2004 and came into effect from October 1, 2004. Tax on the short-term capital gain if securities transaction tax is applicable: If securities transaction tax is applicable, the short-term capital gain is taxable at the rate of 15% +surcharge and education cess. Other than Dividend Distribution Tax (DDT), the Securities Transaction Tax (STT) and Long-Term Capital Gains (LTCG) tax are other major taxes levied on market instruments. Indirect Taxes in India. Income tax, corporation tax, wealth tax, capital gains tax, securities transaction tax
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