Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: form 3cd :: TDS :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: cpt :: ACCOUNTING STANDARD :: VAT Audit :: empanelment :: Central Excise rule to resale the machines to a new company
 
 
« News Headlines »
 Here’s how the new tax provisions will impact you in 2017-18
 Income-tax (3rd Amendment) Rules, 2017
 How you can save tax in the last 2 days of current FY
 6 important income tax rules for individuals which will change from April 1, 2017
 Key changes in income tax rates individuals need to look at from 1 Apr
 Provisional Enrollment under Goods and Service Tax (GST)
 Ten income tax changes that will come in to effect from April 1
 New income tax provisions you need to be aware of
 8 benefits you must know about this tax-saving mutual fund
 10 most important income-tax changes which will apply from April 1
 Delhi: 54 CAs, company secretaries on radar in I-T crackdown against black money

Securities tax mop-up dips 22%
May, 29th 2009

Collections by way of the Securities Transaction Tax (STT), the tax levied on buying and selling of securities, from Mumbai dipped by around 22%, according to Central Board of Direct Taxes (CBDT) sources. Mumbai accounts for nearly all of Indias STT collections.

The STT collections between April and May 25 this year stand at Rs 800 crore, while the figure for the corresponding period of the past fiscal was Rs 1,026 crore. Out of the total, all India direct tax collections of Rs 3,40,000 crore last year, STT accounted for about Rs 5,500 crore.

The current plunge in collections, market observers said, is understandable in view of the steep dip in the Sensex since the beginning of 2009. Between April and May last year, the Sensex was in the range of 15,000-16,000 points and crossed the 20,000-mark, before its fall in the middle of January this year.

Motilal Oswal, CMD, Motilal Oswal Securities, told ET: The arbitrage activities, too, have come down and the stock market is also down this year. It is, therefore, understandable that the STT collections went down during this period.

Since STT is a tax levied on buying and selling of securities, the market movement would have a bearing on the STT collection. However, tax authorities are optimistic of a better STT collection this year and are banking on the Sensex rising in the coming months.

STT, introduced in 2004, has been among the factors that helped boost the direct tax collections ever since it was introduced. The objective of introducing STT was to circumvent the tax evasion/avoidance of capital gains tax arising from the profit generated from investment in stocks. STT cannot be avoided because the tax is deducted at source.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions