Securities lending and borrowing not treated as transfer for income tax purposes and not subject to securities transaction tax. The circular confirms that securities lending and borrowing under SEBI's SLB framework is covered by the statutory exclusion from the definition of transfer in income tax law, so lending is not treated as a transfer for income tax purposes, and that lending/borrowing transactions do not fall within the charging provisions for securities transaction tax and thus are not liable to that tax.
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 lending and borrowing not treated as transfer for income tax purposes and not subject to securities transaction tax.
The circular confirms that securities lending and borrowing under SEBI's SLB framework is covered by the statutory exclusion from the definition of transfer in income tax law, so lending is not treated as a transfer for income tax purposes, and that lending/borrowing transactions do not fall within the charging provisions for securities transaction tax and thus are not liable to that tax.
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