Sebi seeks easing of Budget's STT proposal

Regulator sends list of transactions that could be kept out

The Securities and Exchange Board of India (Sebi) has sent a list of market scenarios that can be kept out of the Union Budget’s proposal of levying capital gains tax on transactions of shares that were acquired by not paying the securities transaction tax (STT).

According to sources, the market regulator has recommended to the finance ministry that transfer of shares on account of inheritance, restructuring within companies and employee stock options (Esops) can be part of the exempt list. Some of the transactions involving foreign funds made without any consideration can also be included in the list, Sebi has