with effect from June 1, 2008
Currently, in the case of sale of a derivative, where the transaction of such sale is entered into in a recognised stock exchange, the STT is at the rate of 0.017% and is payable by the seller. The Budget proposes to amend sections 98 and 99 of Chapter VII of the Finance (No 2) Act, 2004 to provide that with effect from June 1, 2008:
(i) In case of sale of an option in securities, STT shall be levied at the rate of 0.017% of the option premium and shall be paid by the seller
(ii) In case of sale of an option in securities, where option is exercised, STT shall be levied at the rate of 0.125% of the settlement price and shall be paid by the purchaser; and
(iii) In case of sale of a futures in securities, STT shall be levied at 0.017% and shall be payable by the seller.
Therefore, the amount of STT in the case of options payable by a purchaser and seller would now change as compared to earlier.
(citing from financialexpress .com / news / The-STT-amendment-impact / 279196/ 0)