Budget wish list: Brokers body wants STT rebate, Rs 1 lakh STCG exemption

Also seeks relaxations in set-off provisions for carry forward business loss

The Association of National Exchanges Members of India (ANMI), a body of stockbrokers, has called for the reintroduction of the rebate in Securities Transaction Tax (STT) and Commodities Transaction Tax (CTT) to increase volume and participation in the market. The recommendations were made in the run-up to Union Budget 2023-24.

Seeking the reintroduction of Section 88E for the rebate, the brokers’ lobby said India is the only geography applying STT and CTT charges in the derivatives and commodities segments.

In a proposal submitted to Nitin Gupta, chairperson of Central Board of Direct Taxes (CBDT) for the budget, ANMI has also