NEW DELHI: The Government on Friday proposed to bring in a single stamp duty rate for all financial securities transactions, a move that would help in reducing procedural requirements for brokers.
The proposal is part of the Finance Bill 2019-20 introduced by Finance Minister Piyush Goyal after presentation of the Interim Budget.
In his speech, he said, the Government last year promised that it would carry out reforms in stamp duty levied and collected on financial securities transactions.
Amendments have been proposed to the Indian Stamp Act.
“The amendments proposed would usher in a very streamlined system. Stamp duties would be levied on one instrument relating to one transaction and get collected at one place through the stock exchanges,” Goyal said. (AGENCIES)
Follow our WhatsApp channel