what is security trasanction tax and its features
Answer (1)
12th Oct, 2020
Dear aspirant,
Hope you are doing well. As per your query Security Transaction Tax (STT) is a result of multiple tax evasions of capital gains tax. It was introduced to curb fraudulent transactions of tax evasion. This move by the Government was to ensure that the tax on financial market transactions is collected in a clean and efficient way. STT is levied on the purchase and sale of securities despite profit or a loss from a transaction.It is not applicable on off-market transactions. Hope you find this helpful. Thank you.
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