| COURT: | Bombay High Court |
| CORAM: | B. R. Gavai J, M. S. Karnik J |
| SECTION(S): | Securities Transaction Tax (STT) |
| GENRE: | Other Laws |
| CATCH WORDS: | derivative contract, Securities Transaction Tax |
| COUNSEL: | Dr Birendra Saraf, J.D. Mistri |
| DATE: | August 28, 2018 (Date of pronouncement) |
| DATE: | September 1, 2018 (Date of publication) |
| AY: | - |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| Securities Transaction Tax: CBDT's clarification that where a derivative contract is being settled by physical delivery of shares, the transaction would not be any different from transaction in equity share where the contract is settled by actual delivery or transfer of shares and the rates of STT as applicable to such delivery based equity transactions shall also be applicable to such derivative transaction takes care of the grievance of the stake holders | |
In a nutshell, CBDT is of the view that where a derivative contract is being settled by physical delivery of shares, the transaction would not be any different from transaction in equity share where the contract is settled by actual delivery or transfer of shares and the rates of STT as applicable to such deliverybased equity transactions shall also be applicable to such derivative transaction
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