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        F. Acts / Amendment Acts

        Section 153 - Amendment of Finance (No. 2) Act, 2004 (Act 23 of 2004)

        Finance Act, 2012
        Chapter VII
        Miscellaneous

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        Securities transaction tax: sale of unlisted shares in IPO offers now taxable and collected by the lead merchant banker. Amendment defines 'initial public offer' and 'lead merchant banker', includes sale of unlisted equity shares under an offer for sale in an IPO as a taxable securities transaction with the seller as the taxable person, revises STT rate entries in the table, and requires the lead merchant banker to collect STT for such IPO-related sales while aligning collection and reporting provisions to include the lead merchant banker alongside Mutual Funds.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Securities transaction tax: sale of unlisted shares in IPO offers now taxable and collected by the lead merchant banker.

                                Amendment defines "initial public offer" and "lead merchant banker", includes sale of unlisted equity shares under an offer for sale in an IPO as a taxable securities transaction with the seller as the taxable person, revises STT rate entries in the table, and requires the lead merchant banker to collect STT for such IPO-related sales while aligning collection and reporting provisions to include the lead merchant banker alongside Mutual Funds.


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