Clause 125 - Amendment of Act 23 of 2004 - Finance Bill, 2013

CHAPTER VIII MISCELLANEOUS Amendment of Act 23 of 2004 125. In the Finance (No. 2) Act, 2004, in section 98, in the Table, with effect from the 1st day of June, 2013, ( i ) against Sl. No. 1, under column (2) relating to taxable securities transaction , ( A ) the words or a unit of an equity oriented fund, shall be omitted; ( B ) in item ( b ), the words or unit , at both the places where they occur, shall be omitted; ( ii ) against Sl. No. 2, under column (2) relating to taxable securities transaction, ( A ) the words or a unit of an equity oriented fund, shall be omitted; ( B ) in item ( b ), the words or unit , at both the places where they occur, shall be omitted; ( iii ) after serial number 2 and the entries relating thereto, the following serial number and entries shall be inserted, namely: Sl. No Taxable securities transaction Rate Payable by (1) (2) (3) (4) "2A Sale of a unit of an equity oriented fund, where ( a ) the transaction of such sale is entered into in a recognized stock exchange; and ( b ) the contract for the sale of such unit is settled by the actual delivery or transfer of such unit. 0.001 per cent Seller"; ( iv ) against Sl. No.4, in item ( c ), under column (3) relating to rate, for the figures 0.017 , the figures 0.01 shall be substituted; ( v ) against Sl. No. 5, under column (3) relating to rate, for the figures 0.25 , the figures 0.001 shall be substituted. Declaration under the Provisional Collection of Taxes Act, 1931 It is hereby declared that it is expedient in the public interest that the provisions of clauses 76, 77 (b), 91 and 92 of this Bill shall have immediate effect under the Provisional Collection of Taxes Act, 1931(16 of 1931).