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TMI BlogSecurities Transaction TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... n offer for sale to the public included in an initial public offer (applicable from July 1, 2012). * Sale of unlisted units of a business trust by an holder of such units which were acquired in consideration of a transfer referred to in section 47(xvii) of the income-tax Act under an offer for sale to the public included in an initial offer and where such units are subsequently listed on a recognized stock exchange (applicable from June 1, 2015). * Sale of unit of an equity oriented fund to the mutual fund. As per of the Securities Contracts (Regulation) Act, 1956, STT would be applicable for securities of the following nature. * Shares, scrips, stocks, bonds, debentures, debenture stock or other marketable securities of a like natur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed on a recognised stock exchange purchase 0.2% Equity oriented fund:- If the following two conditions are satisfied, the fund is known as 'equity oriented fund"- * More than 65% (up to May 31, 2006 - 50%) of the total proceeds of the fund is invested in equity shares in domestic companies, and * The fund has been set up under a scheme of mutual fund. For the above purpose, the percentage of equity share holding of the fund shall be computed with reference to the annual average of the monthly averages of the opening and closing figures. Value of Taxable securities:- The value of a taxable securities transaction shall be computed as follows:- * In the case of a taxable securities transaction relating to a derivative (being option ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for stock exchange, Form No. 2 for mutual fund ) of all taxable securities transactions entered into during a financial year on that stock exchange or, as the case may be, in respect of all taxable securities transactions, being sale of units to such mutual fund during such financial year. Such return should be submitted on or before June 30 after the end of the financial year. A revised return can be submitted before the assessment is made, in case of discovery of any omission or wrong statement in the return earlier furnished. Penalty:- The following penalties may be imposed on a recognized stock exchange/ mutual fund- If the recognized stock exchange/ mutual fund fails to collect whole or any part of securities transaction tax. In ad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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