Comment on Taxation Simplified

Nithin Kamath commented on 04 Jul 2014, 09:07 AM

Vinayak, taxation in India especially for someone trading the markets, there is nothing black and white, everything is grey… Most of the filing is done under assumptions on what makes sense logically and if you declare more turnover and actual is less there is no problem that will arise, usually the vice versa is what causes trouble..
Here is something that makes it tricky with BTST, a lot of brokerages (including some big names) when you buy shares and sell as BTST, still end up taking delivery before selling them, so they can also earn on the DP charges. So it is important to also see the DP transaction statement, because if delivery is taken then it won’t be speculative anymore.

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