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Union Budget
STT Proposed to be Reduced by 20%
Posted On : 2012-03-16 01:03:13( TIMEZONE : IST )
In the General Budget 2012-13 presented by the Union Finance Minister Shri Pranab Mukherjee in LokSabha here today, it has been proposed to reduce the Securities Transaction Tax (STT) on cash delivery transactions by 20%, from 0.125% to 0.1%, in order to reduce transaction costs in the capital markets.
In order to moderate the outgo on profit linked deductions, it has been proposed to extend the levy of Alternate Minimum Tax (AMT) on all persons other than companies, claiming profit linked deduction.
The Finance Minister, Shri Mukherjee has also proposed to introduce a General Anti Avoidance Rule (GAAR) in order to counter aggressive tax avoidance schemes, while ensuring that it is used only in appropriate cases, by enabling a review by a GAAR panel.
