By Shubham Singh Aug 7, 2018 9:04:37 PM IST (Published)
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The Cabinet has decided to consider amendments to Stamp Duty Act with respect to financial securities soon.
The cabinet has decided to consider amendments to Stamp Duty Act with respect to financial securities soon, government officials said.
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It has proposed uniform stamp duty for financial securities such as shares, debentures. The finance ministry also informed that stock exchanges will deduct taxes from buyers and distribute it to states where buyers reside.
"We will take reform measures with respect to stamp duty regime on financial securities transactions in consultation with the states and make necessary amendments the Indian Stamp Act," finance minister Arun Jaitley said in his 2018 budget speech.
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