SEBI's new move to cut retailers participation in F&O!

[headstrong007]

According to law they can't neglect Net worth. Net worth certificate by CA will be an alternate way to get exposure. For example, you may have 20 lakh trading capital, you got from inheritance/property sale etc but u don't have any taxable income.
You might have other properties like gold, mutual fund, bond, demat shares, joint property etc in your name got from inheritance. Any type of similar worth u have accumulated on your own also going to the list of your net worth. You may have a car, home, flat other valuable assets. Adding all this your total NET WORTH is calculated. NET WORTH is another way to show your ability to do any business.
So, Net worth will be another way to bypass ITR linking. Even if u have low income or no income you can trade comfortably if u have big net worth or big trading capital. According to law, no one can deny netwoth of a person.

 

[TraderGYO]

According to law they can't neglect Net worth. Net worth certificate by CA will be an alternate way to get exposure. For example, you may have 20 lakh trading capital, you got from inheritance/property sale etc but u don't have any taxable income.
You might have other properties like gold, mutual fund, bond, demat shares, joint property etc in your name got from inheritance. Any type of similar worth u have accumulated on your own also going to the list of your net worth. You may have a car, home, flat other valuable assets. Adding all this your total NET WORTH is calculated. NET WORTH is another way to show your ability to do any business.
So, Net worth will be another way to bypass ITR linking. Even if u have low income or no income you can trade comfortably if u have big net worth or big trading capital. According to law, no one can deny netwoth of a person.

As I come from a semi-urban area getting hold of net-worth certificate won't be easy for me. I have spoken to a CA(friend of a friend), he told me bluntly that as he does not know me personally he is can not issue me a Net worth certificate.

 

[headstrong007]

As I come from a semi-urban area getting hold of net-worth certificate won't be easy for me. I have spoken to a CA(friend of a friend), he told me bluntly that as he does not know me personally he is can not issue me a Net worth certificate.

Definitely that is a problem. That's why Govt & SEBI is using this to cut retailer participation as much as possible.
But, when there is a will there is way. Try to find some junior CA who need some money.

Probably, this could be done online too(I mean without face to face meeting with CA) with valid document proofs.
Ask CA Nikhil present here on the Tax thread, he can give proper guidance too.

 

[TraderGYO]

Definitely that a problem. That's why Govt & SEBI is using this to cut retailer participation as much as possible.
But, when there is a will there is way. Try to find some junior CA who need some money.

This could be done online too(I mean without face to face meeting with CA) with valid document proofs.
Ask CA Nikhil present here on the Tax thread, he can give proper guidance too.

Thank you.

 

[sachin928111]

If the minimum quantity of futures is set to 1 then what will be the difference between futures and equity? just 30 days of time limit?

in future u can square off any time no nsdl charges during market hours and expiry

 

[TraderGYO]

More good news.
Sebi writes to govt urging tax parity between cash and derivatives
http://www.business-standard.com/ar...ween-cash-and-derivatives-118050700833_1.html

 

[TraderRavi]

More good news.
Sebi writes to govt urging tax parity between cash and derivatives
http://www.business-standard.com/ar...ween-cash-and-derivatives-118050700833_1.html

now govt will increase STT in FNO to bring parity with cash

 

[Newbie Day-Trader]

now govt will increase STT in FNO to bring parity with cash

What else can you expect from government? They never let go of any opportunity to steal more money from people.

 

[Newbie Day-Trader]

As I've said before, they could achieve the same effect, that is, - increasing retail participation in Cash in relation to F&O - by REDUCING the taxes on Cash to be on par with F&O, & that'd also help Indian markets become deeper & more mature, & less susceptible to manipulation but NO, they don't really care about retail traders or the development of Indian markets, all they care about is their geed for more tax-money.

 

[rivi]

now govt will increase STT in FNO to bring parity with cash

I read it as-
now govt will increase STT in FNO to bring party with cash