STT was brought in 2004 to remove LTCG tax: Now the government is collecting both; Tax on F&O trading increased by 150% in the budget
Date 1 October 2004. The then Finance Minister P. Chidambaram removed the Long Term Capital Gains (LTCG) tax on stock market profits. In lieu of this he introduced Securities Transaction Tax (STT). The logic was simple – leave tax on profits, tax every transaction. Everything went well for 14 years, but in the 2018 budget,…
