Amendment of Act 23 of 2004
In the Finance (No. 2) Act, 2004, with effect from the 1st day of June, 2008,--
(i) in section 98, in the Table, for serial number 4 and the entries relating thereto, the following serial number and the entries shall respectively be substituted, namely:--
| Sl. No. | Taxable securities transaction | Rate | Payable by |
| (1) | (2) | (3) | (4) |
| "4 | (a) Sale of an option in securities | 0.017 per cent. | Seller |
| (b) Sale of an option in securities, where option is exercised | 0.125 per cent. | Purchaser | |
| (c) Sale of a futures in securities | 0.017 per cent. | Seller"; |
(ii) in section 99, for clause (a), the following clause shall be substituted, namely:--
"(a) in the case of a taxable securities transaction relating to an option in securities, shall be--
(i) the option premium, in respect of transaction at item (a) of serial number 4 of the Table in section 98;
(ii) the settlement price, in respect of transaction at item {b) of serial number 4 of the Table in section 98;".