⟩ Tell me what is the Securities Transaction Tax?
1. Securities Transaction Tax (STT) was introduced in India at time of 2004 budget and is applicable from 1 October 2004. STT is the tax which is payable on the amount of taxable securities transaction.
2. STT is just levied on purchase and sale of those securities that are listed on the Indian Stock Exchanges.
3. Securities Transaction Tax was introduced by the Finance Minister, P. Chidambaram to restrict people from evading tax on capital gains.
