I want to know future & option trading to show in which head. If show is business income how to calculate turnover
ASSESSEE HAS NORMAL BUSINESS HAVING TURNOVER OF RS. 12 CRORE. HIS BOOKS ARE SUBJECT TO AUDIT. SALE OF SHARES 97 LAC AND 1.00 CRORE PURCHASE OF SHARES. TRADING IN DERIVATIVE INTRADAY 58 CRORE. SUM TOTAL OF PROFIT AND LOSS IS RS. 20 LAC AND ACTUAL LOSS FROM SHARES AND DERIVATIVE IS RS. 3.00 LAC. STT HAS BEEN PAID ON THESE TRANSACTIONS AND TRANSACTIONS ARE CARRIED OUT FROM RECOGNISED STOCK EXCHANGE.
QUERY- 1. WHETHER TAX AUDIT APPLICABLE FOR SHARE TRADING AND DERIVATIVE TRADING BUSINESS? 2. LOSS FROM DERIVATIVE AND SHARE TRADING ARE SPECULATIVE LOSS OR NON SPECULATIVE ? 3. HOW TO SHOW ABOVE TRANSACTIONS IN ITR. SHARE AND DERIVATIVE ARE NOT GOODS OR SERVICES AS PER INCOME TAX ACT. HOW TO REPORT IT IN PROFIT AND LOSS ACCOUNT.
I wanted to know if its possible to invest the sale proceeds from a property which is in my name into the stock market in my wifes account. I am planning to invest the entire capital gains in new property & remaining amount in stock market. This is not a tax query but rather to know the procedure for the above.
So I just want to know if theres a specific process to be followed or I can just transfer the balance amount to my wifes account & invest into markets from thereon.
I will be grateful if I am advised on the following regarding New Margin System with effect from 01.09.20.
1. In what context it is applicable.
2. For whom is it applicable.
3. Is it required that every share holder has to pledge every share
Can anyone please tell me. I want to be Investor like warren bufffet and Mr. Rakesh Zumzumwala. Right now I am student of CA Final . What Shall I do . Shall I Do Charter Financial Analysts. Which Books Shall I read to increase the knowledge of share market. Which newspaper. Which News Channel. Whose Blogs should I read ?. Shall I join any Investment firm of CFA to increase knowledge of share market as now I am doing articalship in CA Firm in Taxation and Audit.
How shall I Start Investing, Shall I do any further courses of share market . Please Guide. Please
I am filing ITR-2 for AY 2020-21 for one of my individual client. He is a Salaried person and also deals in shares.
I got stuck in Schedule 112A where the itr form asks me to fill the details of shares on which there is capital gain.
Till AY 2019-20, it was an optional schedule. Now it has become mandatory.
I want to know is it mandatory to give each and every share details in this schedule as my client deals in 100 stocks so it will become very time consuming to enter details of each stock. Can I give a consolidated amount.
Further whether I have to give both LTCG and STCG share details in this schedule.
Please help me in this matter as to which details are to be reported.
HOW TO CALCULATION OF DRAWING POWER (DP)
What happens to a company when in converts it's optionally convertible preference shares into equity?
Will it increase there holding in the company?
If yes, then what about the existing shareholders? Will it be automatically decreased?
I live in ghaziabad uttar pradesh . I invested in a pvt ltd company in may 2019 based in Tamil nadu as a shareholder having 49% equity in that company. I have all the documents of two directors who are husband and wife having 51% equity and both are directors . At the time of getting share certificate for the same , He also gave me well endorsed (signed and stamped with company ) cheque (post dated to may 2020) worth total sum i paid against shares. As time went on,
I as a shareholder kept askign him on monthly basis about what and hows business going on? but he didn't respond me satisfactorily. Later he himself told me to get separated on good note from company , I suddenly agreed without thinking . As per our shareholder agreement (If either of the shareholders desire at any time to sell the whole or part of their shares of the company, the share holder first offer such shares in writing to other shareholder . If other party does not accepting within 90 DAYS , then first party will be at the liberty to sell the shares to any other person at the same price and the same conditions) and also stated in agreement( Shareholder will be entitled to interest at the rate of 18% per annum on the sums brought in by him or his associates/concerns/businesses) .He told me he would forward the refund request to his CA. I sent him mail regarding refund and after 90 days approx, i asked him about refund , he said he is searching for another investor , I was unable to understand what happened to request made to CA by him , why should i suffer? if he is not able to find another investor, He didn't conducted any AGM and even not provided me audit report .Still i gave him some more time BUT as time progressed, he stopped responding . I used to interact over whatsapp and sometimes email .He is also not responding over repeated email/whatsapp from my side. The final thing is that I have with me , the cheque dated 5 may 2020(3 months validity) , share certificate and company docs, id proofs of owner, passport copy .
Q- He also issued me SECURITY CHEQUE with same amount i paid subscribing equity shares. CAN I GO TO BANK TO ENCASH THE CHEQUE IF CEO / DIRECTORS NOT RESPONDING TO GET MY INVESTED MONEY BACK.
Q - AS i have only 2 months remaining to use cheque. What should i Do?
Q- Can company sue me under COMPANIES ACT 2013 on ANY grounds merely for using SECURITY CHEQUE.( AS company) ITSELF NOT RESPONDING ME
Q- Is MCA investor service effective for startup company
Q- As a new and beginner investor ,,,,what should i do get money back without getting into much legality
Q- what proper should i go for?
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