Introduction to Removing DDT as well as Reinstall Rebate on STT

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Through the Brokers Association

Mumbai, Ta. December 17, 2019, Tuesday

The Association of National Exchanges Members of India has submitted to the Ministry of Finance to abolish Dividend Distribution Tax (DTT) in the next budget and to implement rebate on payment of Security Transaction Tax (STT).

In the recommendations submitted to the Ministry of Finance before the budget, this institution will be introduced by withdrawing the DDT and re-entering the exemption on long-term capital gains tax on the listed shares.

In order to increase the volume of the stock market, Article 3E should be re-filed under the Income Tax Act.

In addition, it is necessary to reduce the STT. These two steps will increase the tax revenues of the government.

According to a study released by the World Bank, India's turnover against the market-cap ratio has dropped by more than 5 percent. The number was 1 in 7, which dropped to 6 last year.

The effect of tax on dividends has impacted corporate earnings. Which also has an impact on the market. Thus, considering the issue, the government should remove it.


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