Cryptocurrency Q&A
What is the STT in India?
What is the STT in India?
CloudlitWonder
Sat Aug 10 2024
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6 answers
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Could you please clarify what STT stands for in the context of India? Is it referring to a specific tax or fee related to cryptocurrency transactions? If so, how does it work and what are the implications for investors and traders in India? Additionally, are there any recent changes or updates to the STT policy that investors should be aware of? Understanding the STT in India is crucial for navigating the complex world of cryptocurrency finance, so I'd appreciate your insights on this matter.
6 answers
Arianna
Mon Aug 12 2024
STT, or Security Transaction Tax, is a specific type of tax imposed in India on the buying and selling of securities. These securities include stocks, mutual funds, and derivatives traded on recognized stock exchanges.
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Riccardo
Mon Aug 12 2024
The STT is classified as a direct tax, which signifies that it is levied directly on the transaction value of the securities involved.
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AzureWave
Mon Aug 12 2024
The primary purpose of STT is to generate revenue for the government and to discourage speculative trading in the securities market.
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Claudio
Mon Aug 12 2024
The rate of STT varies depending on the type of security being traded and the nature of the transaction. For instance, the STT rate for equity delivery trades is lower than that for intraday trades.
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SunlitMystery
Mon Aug 12 2024
STT is collected by the stock exchanges and remitted to the government. The tax is deducted at source by the broker or the exchange, ensuring compliance and ease of collection.
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