Saturday, April 14, 2007

FIIs, MFs lending shares for short selling : NO TAX

Financial Institution Investors (FIIs), Mutual Funds (MFs) and other institutions which play the role of the lender of securities in shorting will not be liable for Securities Transaction Tax (STT). The seller of the security in the market, however, will attract STT on each transaction as per the provisions of the tax. Security Lending Norms are under active consideration of SEBI and Government.


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