The National Stock Exchange of India Ltd on Tuesday (March 10) said it has asked brokers and sub-brokers to furnish details of excess securities transaction tax (STT) collected and retained for FY2023-24 and preceding years, and remit the amount along with interest of 1% for every month of delay.
The exchange issued a circular on March 10, 2026, following directions from the office of the Joint Commissioner of Income Tax, Range 7(1), which drew attention to excess STT collected by some members that had not been remitted to the government account for FY2023-24 and earlier years.
The directive refers to a previous NSE circular dated March 19, 2025, that dealt with excess STT retained by members for FY2022-23 and prior years.
In a letter dated March 5, 2026, the Joint Commissioner of Income Tax requested the exchange to issue a circular asking all members, brokers and sub-brokers to submit details of excess STT collected and retained with them for FY2023-24 and earlier years as on March 31, 2023.
The tax authority also instructed that such communication be captioned ‘Excess STT Retained-NSE’ and that members comply within seven days of the circular or notice being published. Members have been asked to remit the excess STT collected, along with interest at the rate of 1% for every month of delay, to the National Stock Exchange of India Ltd immediately.
The exchange said the remittance should be made to the NSE under intimation to the Income Tax Department, following which the exchange will deposit the amount into the government account.
