Saturday, January 15, 2011

BSE, NSE AGREE TO UNIFORM STAMP DUTY PLAN

The government's plan to have a uniform stamp duty rate for all stock market transactions has moved a step closer to reality. The two major stock exchanges have agreed to take responsibility for collecting the duty and passing it on to state governments. How this will be done has been decided. Each state will authorize exchanges to collect duty on its behalf and electronically transfer the funds every fortnight.

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