TaxTMI 
TaxTMI 
Securities Transaction Tax (STT) – Draft Rules, 2004
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....dures for the levy, collection and remittance of STT are put in place immediately in accordance with the enclosed draft Rules. Yours faithfully, V S SUNDARESAN SECURTIES TRANSACTION TAX (DRAFT) RULES 1. Short title and commencement - (1) These rules may be called the Securities Transaction Tax (draft) Rules (2) They shall come into force on the day of , 2004. 2. Definitions - (1) In these rules, unless the context otherwise requires,- (a) "Act" means the Finance (No.2) Act, 2004 ( 29 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 hereto. (2) Words and expressions used but not defined in these Rules and 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. 3. Value of taxable securities transaction- For the purposes of clause (c) of section 99 of the Act, the value of a taxable securities transaction, being a purch....
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....this rule - (i) "netted settlement mode" means a mode of settlement of transactions in a recognised stock exchange where the quantity of an equity share or unit purchased by a person on a trading day is set off against the quantity of that equity share or unit sold by him on that day and actual delivery is required to be taken or given by him as the case may be, only in respect of the net quantity purchased or sold as has not been so set off; (ii) "trade-for-trade settlement mode" means a mode of settlement of transactions in a recognised stock exchange where each trade is compulsorily required to be settled by actual delivery; (iii) "auction settlement mode" means a mode of settlement, in a stock exchange, of transactions carried out in the auction session, being a trading session in which the stock exchange makes purchases of equity shares or units through an auction process initiated by it, so as to settle transactions where there has been a failure to deliver such equity shares or units which were required to be delivered. 4. Rounding off value of taxable securities transaction, securities transaction tax, etc. - The value of taxable securities transaction and th....
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.... 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 Fund, or such other person managing the affairs of the Mutual Fund as may be duly authorised by the trustee in this behalf. (4) The return of taxable securities transaction entered into during a financial year shall be furnished on or before the 30th June immediately following that financial year. 8. Return by whom to be signed - The return under sub-section (1) of section 101 of the Act shall be signed and verified - (a) in the case of a recognised stock exchange - (i) being a company, by the managing director or a director thereof; (ii) in any other case, b y the principal officer thereof. (b) in the case of a Mutual Fund, by the trustee or such other person managing the affairs of the Mutual Fund as may be duly authorised by the trustee in this behalf. 9. Time limit to be specified in the notice calling for return of taxable securities transaction - Where an assessee fails to furnish the return under sub-section (1) of section 101 of the Act within the....
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.... 03. (A[9]) 04. (B[8]) 05. (B[9]) TOTAL 7. TOTAL SECURITIES TRANSACTION TAX COLLECTIBLE CODE* (Schedule) 01. (A[10]) 02. (A[11]) 03. (A[12]) 04. (B[10]) 05. (B[11]) TOTAL Seal and Signature of VALUE (IN RS.) AMOUNT (IN RS.) Page 7 (Schedule) 8. TOTAL SECURTIES TRANSACTION TAX COLLECTED (C[5]) 9. TOTAL SECURTIES TRANSACTION TAX PAID (C[6]) 10. SECURITIES TRANSACTION TAX PAYABLE/ REFUNDABLE (7-9) 11. INTEREST PAYABLE UNDER SECTION 104 (C[7]) 12. INTEREST PAID (C[8]) VERIFICATION I, (full name in block letters), son/ daughter of solemnly declare that to the best of my knowledge and belief the information given in this return and schedules accompanying it is correct and complete and that the total value of taxable securities transactions and other particulars shown therein are truly stated and are in accordance with provisions of Chapter VII of the Finance (No.2) Act, 2004 and Securities Transaction Tax Rules, 2004. I further declare that I am making this return in my capacity as return and verify it. Date and I am also competent to make this ....
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.... 11. TOTAL SECURITIES TRANSACTION TAX COLLECTED (B[8]) 12. TOTAL SECURITIES TRANSACTION TAX PAID (C[6]) (C[7]) 13. SECURITIES TRANSACTION TAX PAYABLE/REFUNDABLE 14. INTEREST PAYABLE UNDER SECTION 104 15. INTEREST PAID (C[8]) (C[9]) VERIFICATION (IN RS.) I, (full name in block letters), son/ daughter of solemnly declare that to the best of my knowledge and belief the information given in this return and schedules accompanying it is correct and complete and that the total value of taxable securities transactions and other particulars shown therein are truly stated and are in accordance with provisions of Chapter VII of the Finance (No.2) Act, 2004 and Securities Transaction Tax Rules, 2004. I further declare that I am making this return in my capacity as return and verify it. and I am also competent to make this Date Place (Name and Signature ) Page 10 Το FORM NO. 3 [See rule 10 of Securities Transaction Rules, 2004] Notice of demand Status.. PAN..... 1. This is to give you notice that for the financial year the reverse, has been determined to be payable by you. 2. ....
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.... Manager, authorized bank/State Bank of India/ Reserve Bank of India. If you intend to seek extension of time for payment of the amount or propose to make the payment by instalments, the application for such extension or as the case may be, permission to pay by instalments, should be made to the Assessing Officer before the expiry of the period specified in paragraph 2. Any request received after the expiry of the said period will not entertained in view of the specific provisions of section 220(3) of the Income-tax Act. Page 11 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. FORM NO. 4 [See rule 12 of Securities Transaction Rules, 2004] Appeal to the Commissioner of Income-tax (Appeals) Designation of the Commissioner (Appeals) *No. ..of Name and address of the appellant Permanent Account Number Financial year in connection with which the appeal is preferred Assessing Officer passing the order appealed against Section and sub-section of the Chapter VII of the Finance (No.2) Act, 2004, under which the Assessing Officer passed the order appealed against and the date of such order Where the appeal rela....
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....l shall be accompanied by a fee of one thousand rupees. The fee should be credited in a branch of the authorized bank or a branch of the State Bank of India or a branch of the Reserve Bank of India after obtaining a challan from the Assessing Officer. Page 13 FORM NO. 5 [See rule 13 of Securities Transaction Rules, 2004] Form of appeal to the Appellate Tribunal In the Income-tax *Appeal No. .....of. Versus APPELLANT Appellate Tribunal RESPONDENT 1. 2. 3. 4. 5. The State in which the assessment was made Section of the Chapter VII of the Finance (No.2) Act, 2004 under which the order appealed against was passed The Commissioner (Appeals) passing the appealed against Financial year in connection with which the appeal is preferred Total value of taxable securities transactions declared by the assessee for the financial year referred to in item 3 Total value of taxable securities transactions as computed by the Assessing Officer for the financial year referred to in item 3 Section of the Chapter VII of Finance (No.2) Act, 2004 under which the Assessing Officer passed the order 6. 7. ....
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....ent Code of the Folio number of Name fund person whom from units purchased 2 3 of PAN of person person from from whom whom units units purchased purchased 4 MAPIN of Value of taxable Securities Securities person from securities whom units transactions purchased (In Rs.) transaction collectible (In Rs.) tax transaction tax collected (In Rs.) 5 6 7 8 9 SCHEDULE - C TOTAL Mont h Name of Uniqu e equity Client Value of Securities Securities Securities Interest taxable transaction transaction transaction payable Interest oriented Code securities transaction tax collectible tax collected tax paid u/s. 104 paid u/s. 104 Particulars of payment of Securities Transaction Tax/ interest u/s. 104 Tax/ Interest fund of the fund during the Name of BSR the bank code branch Date of Serial deposit Amount of bank no. of challan month branch 1 2 3 (In Rs.) 4 (In Rs.) 5 (In Rs.) 6 (In Rs.) 7 (In Rs.) 8 (In Rs.) ....