Recent content by lonstud

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    Broker requiring minimum margin for covered call

    Hi all, I want to hold stocks in my demat account and sell calls on it to enhance returns. I want to know which broker allow me to carry this position with minimum margin. To consider an example, consider following two positions Reliance with stock price of [email protected] qty would require cash...
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    Fire your tax related queries and i would get it solved!!!

    Hello, I am a resident Indian and I file my IT returns showing P/L from trading F&O as business Income. My accounts are liable to be audited u/s 44AB. I have friend settled abroad, would be classified as non-resident as per IT laws. I executed few trades on my friend's behalf through my trading...
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    Interactive brokers Rs.20 max brokerage?

    I have kept more than that amount with them for over 2 years now. Didnt face any problems yet. They religiously follow quarterly settlement every quarter (any cash balance over 10,000 is transferred to your bank account once every quarter). Interactive brokers is listed on Nasdaq with MCap of...
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    Fire your tax related queries and i would get it solved!!!

    I can see the notice on income tax website now. I have submitted by response by disagreeing with the defect. Mentioned transaction id and acknowledgment number in my reply which I received in my email at the time of accepting the e-filed form 3CB along with date of filing and same date has been...
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    Fire your tax related queries and i would get it solved!!!

    Thank you canikil for the the response. I have checked the details again. Date for filing ("Filing Date") of Form 3CB is shown as 26th October, 2017 (26/10/2017) on income tax website under e-Filed Returns->other forms. In my ITR 3 form uploaded on the website, the date of furnishing of audit...
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    Fire your tax related queries and i would get it solved!!!

    I have received "Notice u/s 139(9)of Income Tax Act, 1961." for the following defect: "As seen from the Audit information mentioned under ‘General’ information in ‘Part A- Gen’ of the return filed, the flag has been ticked as “Yes” against – ‘Whether liable for Audit under section 44AB?’...
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    Interactive brokers Rs.20 max brokerage?

    You are correct. There are no separate charges for historical or live data feeds. They do not provide historical tick data. However, you can get sampled data. The minimum sampling can be of 1 sec and you can get historical data for the past six months when using sampling of 1 sec interval for...
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    Interactive brokers Rs.20 max brokerage?

    They provide barebone API framework which can be used to connect to their trading software. They do not restrict how this framework may be used by their customers. One can request realtime data using their api and place/manage orders using their api. Anything in between needs to be done by the...
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    Interactive brokers Rs.20 max brokerage?

    One need not keep spare margin of 1 lac at all times to initiate positions. Your account should have balance of atleast 2 lacs to initiate f&o position. But that 2 lacs need not been in cash. If you have stocks worth 1 lac and cash worth 1 lac in your account, then you can initiate position in...
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    Interactive brokers Rs.20 max brokerage?

    Intraday cut-off timing is still at 2:30 pm. But that intraday cut-off relates to shorting stocks.(I have not used IB to short stocks, but as per my understanding thats the cut-off time before you need to cover your shorts in equity stocks). The cut-off at 3:15 relates to intraday margin...
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    Interactive brokers Rs.20 max brokerage?

    I am trading only futures and options with them and I can confirm brokerage has been reduced to Rs. 20 per order. Also, margin requirements have indeed come down from before in addition to intraday margin relaxation. For any position initiated before 3:15, intraday margin upto 50% is applied...
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    Fire your tax related queries and i would get it solved!!!

    I visited IT office today to submit 10DB and other documents as verbally requested by ITO on 18th August, 2017. Today, the behavior of ITO was much more cordial and he gave me assessment order (prepared beforehand), which accepted my Income tax as filed by me and no further income was assessed...
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    Fire your tax related queries and i would get it solved!!!

    He can and did offer to attend these meetings. But there were two issues with this: 1) He would not do it for free. He has charged me for auditing services. For scrutiny meetings, charges will be extra. 2) My family's experience with CA handling scrutiny assessment has not been good till now...
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    Fire your tax related queries and i would get it solved!!!

    http://www.incometaxindia.gov.in/forms/income-tax%20rules/103120000000007824.pdf. This is the link for downloading template of form 10DB. Even on income tax website form, it says "form redundant".
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    Fire your tax related queries and i would get it solved!!!

    Interactive Broker has already reverted back with my query. They said F0rm 10db can be filled by myself as it does not require broker signature. Interactive broker also provides annual STT statement which has same value of transactions as mentioned in the NSE report to income tax department. I...