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of <h1>Finance Bill 2013: Amendments to Section 98 Reduce Securities Transaction Tax Rates for Equity Funds and Derivatives</h1> Clause 125 of the Finance Bill, 2013 amends section 98 of the Finance (No. 2) Act, 2004, concerning securities transaction tax (STT). Effective June 1, 2013, the amendments remove references to 'units of an equity oriented fund' from certain taxable securities transactions and introduce a new transaction category, reducing the STT rate for the sale of such units to 0.001%. The STT rate for derivatives is reduced from 0.017% to 0.01%, and for other specified transactions, from 0.25% to 0.001%. The changes are declared urgent under the Provisional Collection of Taxes Act, 1931.
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