Don't Worry , Be Happy !
There is great confusion regarding the nature of Futures & Option (derivative) trades executed through MCX . The confusion has, perhaps, aggravated after the recent decision dt 17/09/2012 by Mumbai Tribunal in case of ACIT vs Arnav Akshay Mehta IT Appeal No. 2742 (Mum.) of 2011 in which the issue was whether the derivative transaction...
Online share trading has just got another regulatory dose. This time exercise is for catching unscrupulous share & stock traders who tries to evade the tax on income generated in share trade or transfer losses to whoever requires it . Evasion of tax is very much prevalent derivative segments i.e Futures and Options of stock...
Securities Transaction Tax is now allowable as business expenditure from Assessment Year 2009-10. However, up to Asst year 2008-09 , the rebate is allowable for STT and there is great confusion regarding allowance of rebate u/s 88E of the I T Act in case a person who has transacted in shares – delivery based trades,...
The share market scam under which people were opening hundreds of demat accounts in one name and other name without quoting PAN and getting the initial public offers (IPOs) allotment by applying through different names , made SEBI to take tough stand. The share market watchdog issued directive for Know Your Client to Depository Participants under which PAN was required to be authenticated by the demat account holder. If PAN is not given , no shares could be transferred out of such unauthenticated demat accounts.
Some one asked on this blog on 23/10/06 We are an investment company. Our funds are majorly deployed in granting loans and advances(more than 80%). and we are also trading in shares.We have received demand notice from ITO for the A.Y.2002-2003 and A.Y. 2003-2004. The demand has arisen mainly because of non acceptance of our...
PAN and TAN applications require you to fill up the the jurisdiction in which the applicant is … [Read More...]
Disability deduction u/s. 80DD of the I.T Act for expenses on maintenance ,nursing or medical … [Read More...]
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