word `property’ has been used by the legislature in a wider sense so as to include more than one house. However, the right to compute the ALV at nil in respect of self occupied property is restricted to one house even thought he property owned by the assessee may consist of more than one house.
Speculative transaction is a transaction in which contract for purchase and sale of any commodity is settled otherwise than by actual delivery. It is not in dispute that in the case of transaction in derivatives, the transaction is always settled otherwise than by actual delivery.
The Securities and Exchange Board of India has issued a code of conduct for intermediaries, including distributors, of mutual funds. Asset management companies have been told not to deal with non-compliant intermediaries. They are to report such cases to the Association of Mutual Funds in India (Amfi) and Sebi.
