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        Direct Taxes

        Rule 3 - Value of taxable securities transaction

        Securities Transaction Tax Rules, 2004

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        Securities transaction value determined by settlement mode-VWAP for netted/auction purchases, transaction price for trade for trade and auction sales. The rule sets the taxable value of equity shares and equity oriented fund units by settlement mode: in netted settlement the person level VWAP for that day (rounded) is the taxable value with aggregation by client code; in trade for trade the transaction price is the taxable value; in auction mode purchases use the session VWAP and sales use the sale price.
                        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 value determined by settlement mode-VWAP for netted/auction purchases, transaction price for trade for trade and auction sales.

                              The rule sets the taxable value of equity shares and equity oriented fund units by settlement mode: in netted settlement the person level VWAP for that day (rounded) is the taxable value with aggregation by client code; in trade for trade the transaction price is the taxable value; in auction mode purchases use the session VWAP and sales use the sale price.


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