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The Securities Transaction Tax is a tax levied at the time of purchase and sale of securitieslisted on stock exchanges. ● Statement 1 is Incorrect: When profit is gained on a certain security, the gains are taxed as per the Capital Gains Tax. The initiative behind introducing STT was to curb evading of capital gains tax on profits earned by transecting in securities. ● Statement 2 is Incorrect: When a company pays profits to the owners, the sum of money is charged through the Dividend Distribution Tax and not the securities transaction tax. ● Statement 3 is Correct: The Securities Transaction Tax is a tax levied at the time of purchase and sale of securities listed on stock exchanges. This tax was introduced in the 2004 Union Budget and came into effect from 1 October 2004. The rate of STT differs based on the type of security traded and whether the transaction is a purchase or a sale. The collection of STT works in a similar way as TCS or TDS. It has to be collected by a recognized stock exchange or by the prescribed person in the case of a Mutual Fund or the lead merchant banker in the case of an IPO.
The number of audience in a museum is 510 on Sunday and 240 on all other days. If the month is of 30 days and the first day of the month is Sunday, then...
Pandit Ravi Shankar popularised which instrument in particular all over the world?
Medaram Jathara festival is celebrated in which Indian state?
Match the following –
Which city is called the ‘Manchester of India’?
What is humidity?
An object is placed in front of a concave mirror at infinity. Which one of the following is correct for its image?
The “Digboi Oil fields” are located in which of following states of India?
_____ is known as viticulture.
Which of the following cell organelles is INCORRECTLY matched?