# The Finance Act, 2008, Section 124: Amendment of Act 23 of 2004

- Act: The Finance Act, 2008
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2008/section/124/

## Text

Amendment of Act 23 of 2004. 124. In the Finance (No. 2) Act, 2004, with effect from the 1st day of June, 2008,— (i ) in section 98, in the Table, for serial number 4 and the entries relating thereto, the following serial number and the entries shall respectively be substituted, namely:— Sl. No. | Taxable securities transaction | Rate | Payable by (1) | (2) | (3) | (4) "4 | (a) | Sale of an option in securities | 0.017 per cent | Seller (b) | Sale of an option in securities, where option is exercised | 0.125 per cent | Purchaser (c) | Sale of a futures in securities | 0.017 per cent | Seller."; (ii ) in section 99, for clause (a), the following clause shall be substituted, namely:— "(a) in the case of a taxable securities transaction relating to an option in securities, shall be— (i ) the option premium, in respect of transaction at item ( a) of serial number 4 of the Table in section 98; (ii ) the settlement price, in respect of transaction at item (b) of serial number 4 of the Table in section 98;". © Copyright. Taxmann Publications Pvt. Ltd.

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