Securities Transaction Tax (STT) is levied on all transactions of sale and/or purchase of equity shares and units of equity oriented fund and sale of derivatives entered into in a recognized stock exchange.
The securities transaction tax thereon would be calculated as follows:
1. Total futures contract value = 1000 x 300 = Rs. 3,00,000
2. Securities transaction tax payable thereon 0.017% = 3,00,000 x 0.017% = Rs. 51