Dear Experts

I am totally in fix and confused about my DEMAT a/c.

The query is as below
•I have a DEMAT a/c.
•I am working in an organization which deals in online trading of shares / scrip
•However, our clients’ intraday transactions are run by my organization through my DEMAT a/c. i.e. My DEMAT a/c is used by my organization for day to day transactions that too intraday.
•The scrip is bought and sold on NSE and BSE during trading hours. And I need to square off all open positions during trading hours.

•At the day-end, profit/loss arises through these transactions.
•Total turnover of the entire year is expected to be Rs.360 Crores
•Therefore, I want to know the consequences for Assessment Year 2014-15.


Should I allow them to use my DEMAT a/c for their transactions ?

Am I going to be scrutinized by the IT department in the Assessment?

How do the Income tax laws apply?

Shall my bank a/c be affected through these transactions?

Please guide me and help me

Very severe

Thanks in advance

1. Who should pay securities transaction tax? Either the Stock broker or the income tax assessee who purchased or sold the shares.

2. What is the difference between Capital Gain Tax on shares and Securities Transaction Tax on share?

3. If Securities Transaction tax is deducted, then how capital gain tax should be calculated?

4. Securities Transaction Tax is paid. but there is no income tax as the income is below the ceiling limit including income from shares. Whether Securities transaction tax so paid can be claimed as refund.

kindly guide me

Dear Expert,

I want to transfer share of ABC Pvt. Ltd. to Mr. A.
Whether is it required to ENDORSEMENT OF FORM 7B BY PROPER AUTHORITY or is it sufficient to executed by transfer and transferee with proper stamp duty paid.

If yes where can i get the endorsed form (7b)?
i went to Calcutta Stock exchange but didn't get there.

Please tell me who is the proper authority ?

Please reply soon its very urgent.

Regards,
Mantu Agarwal

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