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<h1>Union Budget 2024-25: Securities Transaction Tax Rates on Options and Futures to Increase Starting October 1, 2024.</h1> The Union Budget 2024-25 proposes amendments to the Finance (No.2) Act, 2004, revising the rates of the Securities Transaction Tax (STT) due to significant growth in derivative markets. The STT rate on the sale of options in securities will increase from 0.0625% to 0.1% of the option premium, and the rate on the sale of futures in securities will rise from 0.0125% to 0.02% of the trading price. These changes are set to take effect from October 1, 2024, aiming to widen and deepen the tax base and serve as an anti-avoidance measure.
TaxTMI