off-the-wire

CORRECTED (OFFICIAL)-India hikes securities transaction tax on futures, options contract

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Corrects paragraph 2 after government says STT on options contracts will rise to 0.0625% from 0.05%; changes sourcing in headline and text) NEW DELHI, March 24 (Reuters) - India has raised the securities transaction tax (STT) on futures and options contracts, the government said, citing amendments to the finance bill, 2023, passed by the lower house of the parliament on Friday. The government hiked STT on options contracts to 0.0625%
from 0.05%, the finance ministry said.


The STT for futures has been hiked to 0.0125% from 0.01%, the government added. The increases would be effective from April 1. (Reporting by Aftab Ahmed; Editing by Savio D'Souza)

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