n NISM Certifications
VII NISM Series VII
Medium

Mr. A sells a futures contract worth Rs 3,29,888 on a recognized stock exchange. What is the STT (Securities Transaction Tax) payable on it?

Practice question from NISM Series VII Mock Test 2 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    NIL

  2. B

    Rs 659.77

  3. Rs 65.97

    Correct answer

  4. D

    Rs 6.59

Why this is the answer

The STT on the sale of a futures contract is 0.02%. Calculation: Rs 3,29,888 × 0.02% = Rs 65.97.

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