India May Cut Share Tax Despite Lower Collections, Times Says
By Shikhar Balwani -
2011-11-07T05:57:57Z
India’s finance ministry may lower the securities transaction tax, or STT, although collections have fallen almost 18 percent in the April-October period, the Times of India reported, citing an unidentified official in the department of economic affairs.
Collection from the STT declined to 29.58 billion rupees in the seven-month period because of fewer transactions on the stock exchanges, the report said.
To contact the reporter on this story: Shikhar Balwani in Mumbai at sbalwani@bloomberg.net;
To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.
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