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of <h1>Section 97 defines key terms and taxable transactions under the securities transaction tax regime, including equities, derivatives, and funds</h1> Section 97 defines terms for the securities transaction tax regime, specifying who the Appellate Tribunal and Assessing Officer are, and meanings for Board, Mutual Fund, business trust, equity oriented fund, derivatives, options (including option premium and strike price), recognised stock exchange, prescribed, lead merchant banker, initial public offer/initial offer, unit linked insurance policy, and taxable securities transaction. A taxable securities transaction includes purchases/sales of equity shares, derivatives, units of equity oriented funds or business trusts on recognised exchanges, certain sales of unlisted shares/units via initial offers, and specified sales or redemptions to mutual funds or insurers.
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