Zania-Editor
The Indian government has announced an increase in the securities transaction tax (STT) for Futures and Options. The new rates are set at 0.02% for Futures and 0.1% for Options. In light of this, the Indian stock exchanges have updated their transaction fees for trading in cash, futures, and options.
According to the National Stock Exchange (NSE), the new transaction fee for the cash market is now Rs 2.97 per lakh of traded value. For equity futures, the fee will be Rs 1.73 per lakh, while equity options will incur a fee of Rs 35.03 per lakh of premium value. In the currency derivatives segment, futures will have a fee of Rs 0.35 per lakh, and options, including interest rate options, will cost Rs 31.10 per lakh of premium value.
In addition to the STT changes, new TDS rates have been introduced. A 10% TDS will now apply to certain Central and state government bonds, including floating rate bonds, with a Rs 10,000 threshold limit before tax is deducted. Furthermore, under Income Tax Section 194-IB, the TDS on rent payments by Hindu Undivided Families (HUF) or specific individuals has been lowered to 2% from 5%. Similarly, the commission on lottery ticket sales has also dropped to 2% from 5%.
Interest rates for post office savings schemes and the Public Provident Fund (PPF) remain unchanged at 4% and 7.1%, respectively.
Starting October 1, individuals can no longer use their Aadhaar enrollment ID for PAN allotment. They are no longer required to disclose this ID in PAN allotment documents or when filing income tax returns.
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