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I-T Dept Demands Brokers Return Excess STT—No Escape!

I-T Dept Demands Brokers Return Excess STT—No Escape!

Listen up, folks! The I-T Department is coming for the brokers—big league! They want those overcharged STT dollars back, and they want it fast! Seven days, folks! Interest? 1% a month! This tax is crucial for the government’s coffers. They’re predicting collections will soar to Rs 73,700 crore by FY27. Tremendous news, believe me! Brokers, you better act now!

Quick rundown

  1. Brokers must remit excess STT with interest.
  2. NSE demands details of excess STT retained.
  3. STT is a key component of India's tax revenue.
  4. STT on futures and options increased from April 1.
  5. Government targets Rs 73,700 crore STT by FY27.

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