India has raised the securities transaction tax (STT) on futures and options contracts, a source said, citing amendments to the finance bill, 2023, passed by lower house of the parliament on Friday.
The government hiked the STT on options contracts to 0.021%, from the 0.017% stated in the Finance Act (2004), said the source, who did not want to be named.
The STT for futures has been hiked to 0.0125% from 0.01%, they said.
The increases would be effective from April 1, they added. (Reporting by Aftab Ahmed; Editing by Savio D'Souza)