CBDT open to tag securities trade tax with capital gains

“We will calibrate it (STT) later on. Whichever, is convenient to revenue, whether to continue STT or tag it on to capital gains tax, that call we will take,” Central Board of Direct Taxex (CBDT) Chairman SSN Moorthy told reporters here.

Short-term capital gains tax at 15 per cent is applied to gains made by selling shares within a year. Meanwhile, Revenue Secretary Sunil Mitra clarified that Moorthy’s statement should not be taken to mean as STT will be done away with.

 “This is not a catch line to say that CBDT is considering doing away with STT,” he added.