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Finance - UTI Asset Management Company Limited (UTI) is set to launch its IPO on 29TH September, 2020, the IPO will be open for subscription to the public for 3 days i.e 29-09-2020 to 01-10-2020. UTI AMC is a registered AMC with SEBI, the oldest AMC erstwhile managed under the Unit Trust of India Act, it is […]...
Read MoreFinance - In current scenario, every person has dream of entering into stock market and build a healthy and wealthy portfolio. The only thing which restrict them to enter into this is time which is most precious thing in today’s competitive environment. This is mainly because to manage a portfolio is consider as kind of tedious job. […]...
Read MoreFinance - Article explains provisions related to Treatment of Income from trading of Securities(Business Income/ or Capital Gain?), Securities Transaction Tax (STT) Treatment, Taxation of Capital Gains in case of Shares held for the Purpose of Investment, Taxation of Gains in case of Shares held for the Purpose other than for Investment and Advance...
Read MoreFinance - Assessment of income from transaction in shares and securities under the Income-tax Act 1961 involves multiple issues. Such transactions give rise to income assessable under different heads of income e.g. business income, capital gain and income from other sources. This article is an attempt to discuss some major issues involved in assess...
Read MoreFinance - Since the covid-19 pandemic, many people started direct trading in stocks. Even brokerages have seen a surge in the number of new demat accounts after February this year. In this article let’s understand what is a meaning of intraday trading, it’s taxability, where to report them in the income tax return and which ITR form […]...
Read MoreFinance - All cash benefit distributions are being processed outside the depository system. Thus, no information is available in the demat account with respect to entitlement of cash benefits and payment of the same to the investors. In case any investor requires any information or has a complaint with respect to above benefits, they are required t...
Read MoreMrs. Neelu Analjit Singh Vs The Addl. Commissioner of Income tax (ITAT Delhi) - The issue under consideration is Unlisted shares sold after holding for 23 months considered as Long Term Capital Gains or Short Term Capital Gains?...
Read MoreKaran R. Bahl Vs ITO (ITAT Mumbai) - In the instant case, all the shares have been bought by the assessee in the regular course of his business, employing common funds, depositing them in the same D-Mat account, and even through the same broker and infrastructure. ...
Read MoreCommissioner of Income Tax-VII Vs Avinash Jain (Delhi High Court) - The intent and purport of the CBDT circular No.4/2007 dated 15.06.2007 is to demonstrate that a tax payer could have two portfolios, namely, an investment portfolio and a trading portfolio. In other words, the assessee could own shares for the purposes of investment and/or for the purposes of tradin...
Read MoreMr. Nehal V. Shah Vs ACIT (ITAT Mumbai) - The AO held the assessee to be a trader in shares & assessed the gains as business profits on the ground that (a) there was high frequency & sale transactions, (b) there were instances where delivery was not taken and shares were sold within a short period,...
Read MoreSmt. Sadhana Nabera Vs. ACIT (ITAT Mumbai) - The assessee, a director and shareholder in a company engaged in share trading, returned income of Rs. 78,89,499 earned by her on transfer of shares as a “short-term capital gain”. The AO took the view that as there were voluminous transactions, the assessee was engaged in share trading and the ...
Read MoreCircular No. SEBI/MIRSD/Cir.No.02/2010 - (18/01/2010) - The Securities Exchange Board of India (Sebi) has said that 'in-person' verification of clients is a mandatory requirement for opening account by a depository participant (DP). This will hold good for opening trading account by a stock broker and vice versa, if the stock broker and DP is the same en...
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Mrs. Neelu Analjit Singh Vs The Addl. Commissioner of Income tax (ITAT Delhi) -
