Revision of rates of securities transaction tax by amendment to the Finance (No.2) Act, 2004 (WIDENING AND DEEPENING OF TAX BASE AND ANTI-AVOIDANCE)

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....in specified securities was introduced vide Finance (No.2) Act, 2004. As per the provisions of the STT, recognized stock exchanges, mutual funds (having equity oriented scheme), insurance company or lead merchant banker appointed by the company in respect of an initial public offer or an initial offer are liable to collect the tax on specified securities and pay the same to the credit of the Centr....