Exemption for acquisition of equity shares: notification limits non STT transactions with specified preferential and off market exceptions. The Central Government notifies that acquisitions of equity shares entered into on or after 1 October 2004 are treated as transactions not chargeable to Securities Transaction Tax under clause (38) of section 10, subject to specified exceptions: (a) preferential issues in companies with not frequently traded shares with limited carve outs; (b) acquisitions not via a recognised stock exchange with enumerated provisos including specified institutional, regulatory, FDI compliant and statutory transfer modes; and (c) acquisitions during delisting periods. Key definitions for application of the exceptions are provided and the notification is effective from 1 April 2018.