equity derivatives :
According to the Sebi press release issued on Wednesday, an individual investor can freely take exposure in the market up to a computed exposure based on their disclosed income as per Income Tax Return(ITR). For any further exposure the broker would be required to undertake rigorous due diligence.
so at present their target is retail in FNO and you can take position based on income shown in ITR only, no restriction for equity market . This means no ITR filed then no FNO trading.
Finance ministry have some data about people having big investment in shares but not much income in ITR , obviously black money, govt wants income tax to increase so they are after these people who dont show proper returns. equity investing can also be linked to ITR may be some time later.
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According to the Sebi press release issued on Wednesday, an individual investor can freely take exposure in the market up to a computed exposure based on their disclosed income as per Income Tax Return(ITR). For any further exposure the broker would be required to undertake rigorous due diligence.
so at present their target is retail in FNO and you can take position based on income shown in ITR only, no restriction for equity market . This means no ITR filed then no FNO trading.
Finance ministry have some data about people having big investment in shares but not much income in ITR , obviously black money, govt wants income tax to increase so they are after these people who dont show proper returns. equity investing can also be linked to ITR may be some time later.
..
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