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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Bill 2016: Clause 230 raises securities transaction tax; introduces Section 113A exemptions for specific transactions.</h1> Clause 230 of the Finance Bill, 2016 proposes amendments to the Finance (No. 2) Act, 2004, effective June 1, 2016. It seeks to increase the securities transaction tax rate from 0.017% to 0.05% on the sale of options where the option is not exercised. Additionally, it introduces a new Section 113A, exempting certain taxable securities transactions from Chapter VII, specifically those conducted by the New Pension System Trust or on recognized stock exchanges in International Financial Services Centres, where transactions are settled in foreign currency.
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