What is the applicable tax rate of TDS and on what amount is TDS applicable on derivative transactions executed through ICICI Securities Ltd?
• Futures • Profit/Loss on square off of futures contract • Mark to market profit/loss on outstanding futures positions at the end of each day • Options • Premium receivable on writing an option contract – considered as profit • Premium payable on buying an option contract – considered as loss • Profit on exercise of an option contract • Loss on assignment of an option contract • Profit/Loss on square off of an option contract • Brokerage, Service Tax , STT,Stamp Duty, Transaction Charges and SEBI Turnover Charges considered as loss. For Example, cumulative profit for TDS purpose will be calculated in the below manner: Date Contract details Action Qty Event Profit/(Loss) Cumulative Profit/(Loss) 1-Apr-07 FUT-NIFTY-30-May-2007 Open Buy Position 150 Profit on EOD MTM 1000.00 1000.00 2-Apr-07 FUT-NIFTY-30-May-2007 Sell 50 Loss on square off (500.00) 500.00 3-Apr-07 OPT-ACC-28-Jun-2007-860-CA Buy 375 Buy call option at premium of Rs.10 (3750.00) (3250.00) 4-Apr-07 OPT-ACC-28-Jun-2007-860-C
Related Questions
- What is the applicable tax rate of TDS and on what amount is TDS applicable on derivative transactions executed through ICICI Securities Ltd?
- WHAT TAX IS APPLICABLE TO CAPITAL GAINS ON DISPOSALS OF SECURITIES COMPLETED IN 2011 AND DECLARED IN 2012?
- WHAT TAX IS APPLICABLE TO CAPITAL GAINS ON DISPOSALS OF SECURITIES COMPLETED IN 2010 AND DECLARED IN 2011?
