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Start Free TrialFinance (No. 2) Act, 2004 Chapter 7
Title: Securities Transaction Tax
State: Central
Year: 2004
.....that the Board may, having regard to the manner in which taxable securities transactions are settled in a recognised stock exchange or such other factors which may be relevant for the purposes of determining the price of such securities, specify, by rules made by it, the method of determining the price of such securities for the purposes of this clause. ____________________________________________________________ 1. Substituted by the Finance Act, 2008 w.e.f. 1st day of June, 2008 for the following :- (a) in the case of a taxable securities transaction relating to a derivative, being "option in securities", shall be the aggregate of the strike price and the option premium of such "option in securities"; Section 100 - Collection and recovery of securities transaction tax (1) Every recognised stock exchange shall collect the securities transaction tax from every person, being a purchaser or a seller, as the case may be, who enters into a taxable securities transaction in that stock exchange, at the rates specified in section 98. (2) The prescribed person in the case of every Mutual Fund shall collect the securities transaction tax from every.....
View Complete Act List Judgments citing this sectionFinance (No. 2) Act, 2004 Section 99
Title: The Value of Taxable Securities Transactions
State: Central
Year: 2004
.....being "futures", shall be the price at which such "futures" is traded; and (c) in the case of any other taxable securities transaction, shall be the price at which such securities are purchased or sold: Provided that the Board may, having regard to the manner in which taxable securities transactions are settled in a recognised stock exchange or such other factors which may be relevant for the purposes of determining the price of such securities, specify, by rules made by it, the method of determining the price of such securities for the purposes of this clause. ____________________________________________________________ 1. Substituted by the Finance Act, 2008 w.e.f. 1st day of June, 2008 for the following :- (a) in the case of a taxable securities transaction relating to a derivative, being "option in securities", shall be the aggregate of the strike price and the option premium of such "option in securities";
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 88E
Title: Rebate in Respect of Securities Transaction Tax
State: Central
Year: 1961
.....in the manner provided in sub-section (2). (2) For the purposes of sub-section (1), the amount of income-tax on the income arising from the taxable securities transactions, referred to in that sub-section, shall be equal to the amount calculated by applying the average rate of income-tax on such income. Explanation : For the purposes of this section, the expressions taxable securities transaction and securities transaction tax shall have the same meanings respectively assigned to them under Chapter VII of the Finance (No. 2) Act, 2004.] 3[(3) No deduction under this section shall be allowed in, or after, the assessment year beginning on the 1st day of April, 2009.] ______________________ 1. Inserted by the Finance (No. 2) Act, 2004, with effect from 1st April, 2005. 2. See rule 20AB and Form Nos. 10DB and 10DC. 3. Inserted by the Finance Act, 2008, with effect from 1st April, 2008.
View Complete Act List Judgments citing this sectionFinance (No. 2) Act, 2004 Section 98
Title: Charge of Securities Transaction Tax
State: Central
Year: 2004
.....of an equity oriented funds, where -- (a) the transaction of such sale is entered into in a recognised stock exchange; and (b) the contract for the sale of such share or unit is settled by the actual delivery or transfer of such share or unit. 1 [0.125 per cent.] Seller 3 Sale of an equity share in a company or a unit of an equity oriented fund, where -- (a) the transaction of such sale is entered into in a recognised stock exchange; and (b) the contract for the sale of such share or unit is settled otherwise than by the actual delivery or transfer of such share of unit. 2 [0.025 per cent.] Seller 5[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] 5 Sale of a unit of an equity oriented fund to the Mutual Fund. 4 [0.25 per cent.] Seller _________________________________ 1......
View Complete Act List Judgments citing this sectionFinance (No. 2) Act, 2004 Section 105
Title: Penalty for Failure to Collect or Pay Securities Transaction Tax
State: Central
Year: 2004
Any assessee who-- (a) fails to collect the whole or any part of the securities transaction tax as required under section 100; or (b) having collected the securities transaction tax, fails to pay such tax to the credit of the Central Government in accordance with the provisions of sub-section (3) of that section, shall be liable to pay,-- (i) in the case referred to in clause (a), in addition to paying the tax in accordance with the provisions of sub-section (4) of that section, or interest, if any, in accordance with the provisions of section 104, by way of a penalty, a sum equal to the amount of securities transaction tax that he failed to collect; and (ii) in the case referred to in clause (b), in addition to paying the tax in accordance with the provisions of sub-section (3) of that section and interest in accordance with the provisions of section 104, by way of penalty, a sum of one thousand rupees for every day during which the failure continues, so, however, that the penalty under this clause shall not exceed the amount of securities transaction tax that it failed to pay.
View Complete Act List Judgments citing this sectionFinance (No. 2) Act, 2004 Section 100
Title: Collection and Recovery of Securities Transaction Tax
State: Central
Year: 2004
.....in section 98. (3) The securities transation tax collected during any calendar month in accordance with the provisions of sub-section (1) or sub-section (2), shall be paid by every recognised stock exchange or by the prescribed person in the case of every Mutual Fund, as the case may be, to the credit of the Central Government by the Seventh day of the month immediately following the said calendar month. (4) Any recognised stock exchange or the prescribed person in the case of any Mutual Fund, who fails to collect the tax in accordance with the provisions of sub-section (1) or subsection (2), shall notwithstanding such failure, be liable to pay the tax to the credit of the Central Government in accordance with the provisions of sub-section (3).
View Complete Act List Judgments citing this sectionFinance (No. 2) Act, 2004 Section 104
Title: Interest on Delayed Payment of Securities Transaction Tax
State: Central
Year: 2004
Every assessee who fails to credit the securities transaction tax or any part thereof as required under section 100, to the account of the Central Government within the period specified in that section, shall pay simple interest at the rate of one per cent. of such tax for every month or part of a month by which such crediting of the tax or any part thereof is delayed.
View Complete Act List Judgments citing this sectionSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Complete Act
Title: Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
State: Central
Year: 2002
..... Section24 - Modification of security interest registered under this Act Section25 - Securitisation company or reconstruction company or secured creditor to report satisfaction of security interest Section26 - Right to inspect particulars of securitisation, reconstruction and security interest transactions Chapter V Section27 - Penalties Section28 - Penalties for non-compliance of direction of Reserve Bank Section29 - Offences Section30 - Cognizance of offence Chapter VI Section31 - Provisions of this Act not to apply in certain cases Section32 - Protection of action taken in good faith Section33 - Offences by companies Section34 - Civil court not to have jurisdiction Section35 - The provisions of this Act to override other laws Section36 - Limitation Section37 - Application of other laws not barred Section38 - Power of Central Government to make rules Section39 - Certain provisions of this Act to apply after Central Registry is set-up or cause to be set-up Section40 - Power to remove difficulties Section41 - Amendments of certain enactments Section42 - Repeal and saving Schedule1 - THE SCHEDULE Amending Act1 - AMENDMENT ACT
List Judgments citing this sectionSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 23
Title: Filing of Transactions of Securitisation, Reconstruction and Creation of Security Interest
State: Central
Year: 2002
The particulars of every transaction of securitisation, asset reconstruction or creation of security interest shall be filed, with the Central Registrar in the manner and on payment of such fee as may be prescribed, within thirty days after the date of such transaction or creation of security, by the securitisation company or reconstruction company or the secured creditor, as the case may be: Provided that the Central Registrar may allow the filing of the particulars of such transaction or creation of security interest within thirty days next following the expiry of the said period of thirty days on payment of such additional fee not exceeding ten times the amount of such fee.
View Complete Act List Judgments citing this sectionSpecial Court (Trial of Offences Relating to Trnsactions in Securities) Act, 1992 Preamble 1
Title: Special Court (Trial of Offences Relating to Transactions Insecurities) Act, 1992
State: Central
Year: 1992
THE SPECIAL COURT (TRIAL OF OFFENCES RELATING TO TRANSACTIONS INSECURITIES) ACT, 1992 [Act, No. 27 of 1992] [18th August, 1992.] PREAMBLE An Act to provide for the establishment of a Special Court for the trial of offences relating to transactions in securities for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Forty-third Year of the Republic of India as follows:--
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