The finance ministry clarified on Friday that the securities transaction tax on selling options in the derivatives market will be increased to 0.0625 percent from 0.05 percent.
There was a typographical error in the amendments to the Finance Bill 2023, which was approved by the Lok Sabha earlier in the day.
The bill states that the Securities Transaction Tax (STT) will be increased from 0.017 percent to 0.021 percent.
“In the case of STT, the rate is proposed to be reduced from 0.05 to 0.0625 percent.”
There was a typographical error, which is being corrected,” the finance ministry said in a statement.
The rectification will be done in accordance with the extent procedure of the Government of India, it added.
