TaxTMI 
TaxTMI 
Securities Transaction Tax Rules, 2004
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....r, 2004. Definitions 2. (1) In these rules, unless the context otherwise requires,- (a) "Act" means the Finance (No.2) Act, 2004 ( 23 of 2004); (b) "authorised bank" means any bank as may be appointed by the Reserve Bank of India as its agent under the provisions of sub-section (1) of section 45 of the Reserve Bank of India Act, 1934 (2 of 1934); (c) "Form" means a Form set out in the Appendix to these rules. (2) Words and expressions used and not defined in these rules but defined in the Act, or the Securities Contracts (Regulation) Act, 1956, or the Income-tax Act, 1961, shall have the meanings respectively assigned to them in those Acts. Value of taxable securities transaction 3. For the purposes of clause (c) of ....
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....alue of taxable securities transaction in a case where the equity share or unit is purchased or sold through a member of the stock exchange, shall be made with reference to the trades executed in the equity share or unit under a particular client Code through that member; (b) where the equity share or unit is purchased or sold by a person in the trade-for-trade settlement mode, the value of the taxable securities transaction shall be the price at which the equity share or unit is purchased or sold; (c) where the equity share or unit is purchased in the auction settlement mode, the value of the taxable securities transaction shall be the volume weighted average price of the equity share or unit, determined in the manner specified in cl....
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....ng off value of taxable securities transaction, securities transaction tax, etc. 4. The value of taxable securities transaction and the amount of securities transaction tax, interest and penalty payable, and the amount of refund due, under the provisions of Chapter VII of the Act shall be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise then, if such part is fifty paise or more, it shall be increased to one rupee and if such part is less than fifty paise it shall be ignored. Person responsible for collection and payment of securities transaction tax in case of a Mutual Fund. 5. In the case of a Mutual Fund, the person responsible for collection and payment of s....
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....ing, - (a) the computer media conforms to the following specifications:- i) CD ROM of 650 MB capacity or higher capacity; or ii) 4mm 2GB/ 4GB (90M/ 120M) DAT Cartridge, or iii) Digital Video Disc; (b) if the data relating to the schedules is copied using data compression or backup software utility, the corresponding software utility or procedure for its decompression or restoration shall also be furnished; (c) the return shall be accompanied by a certificate regarding clean and virus free data. (3) In the case of a Mutual Fund, the return referred to in sub-rule (1) shall be furnished by the trustee of the F....
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....pter VII of the Act, the Assessing Officer shall serve upon the assessee a notice of demand in Form No. 3 specifying the sum so payable. Prescribed time for refund of tax to the person from whom such amount was collected. 11. Every assessee, in case any amount is refunded to it on assessment under sub-section (2) of section 102 of the Act, shall, within thirty days from the date of receipt of such amount, refund the same to the concerned person from whom it was collected. Form of appeal to Commissioner of Income-tax (Appeals). 12. (1) An appeal under sub-section (1) of section 110 to the Commissioner (Appeals) shall be made in Form No. 4. (2) The form of appeal prescribed by sub-rule (1), the grounds of appeal and the form....