STT reduced for only equity futures and not for equity(cash) ? or reduced for both[equity futures and equity(cash)] ?
please explain.
Regards
STT reduced on Equity Futures. Not clear whether it is reduced on Index futures like Nifty Fut and Bank Nifty Fut.
Following is the extract from the FM's Budget speech:
148. Securities Transaction Tax (STT) has a stabilizing effect on transactions,
although it adds to the transaction cost. Taking note of the changes and shifts in
the market, I propose to make the following reductions in the rates of tax:
Equity futures: from 0.017 to 0.01 percent
MF/ETF redemptions at fund counters: from 0.25 to 0.001 percent
MF/ETF purchase/sale on exchanges: from 0.1 to 0.001 percent, only on
the seller
Smart_trade