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...
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...
In India , there are two main commodity exchanges –Multi Commodity Exchange of India Ltd (MCX ) and National Commodity & Derivative Exchange Ltd NCDEX in India where one can trade in derivative contract of different items –from pulse to metal. Now there is another exchange MCX Stock Exchange Ltd in which one can trade...
Whether Trading in Nifty Futures, amount to trading in derivates and as a result not a speculative transaction as per the amendment to sec 43(5) by Fiance act 2005. RAMESH V RAICHUR, Belgaum Futures and option trading-whether in individual shares or Nifty futures – was regarded as speculation business as per section 43(5) of the I...
If a person is engaged in share trading and turnover of delivery based buying & selling is less than 40 lacs but speculation business in share trading where intra-day sale purchase is effected but delivery is not taken exceeds 40 lacs, is tax audit applicable ? surendra.gandhi@……in This issue was subject to controversial interpretation by...
The proposal of Cyprus government to impose a 7.5% tax on all money kept in fixed deposits in the … [Read More...]
Disability deduction u/s. 80DD of the I.T Act for expenses on maintenance ,nursing or medical … [Read More...]
Monthly Subscription
Annual
Semi Annual Subscription
Quiz for CA/ICMA/CS Students