NISM Series XIII Common Derivatives Certification Exam Notes

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  • Non-Speculative Income: Futures gains/losses treated as non-speculative.
  • Tax Audit: Mandatory if turnover exceeds Rs. 10 crore.
  • Securities Transaction Tax (STT): Levied on derivatives trades based on value.
  • Turnover Calculation: For tax, includes premium and settlement differences.
  • Option Exercise: STT on settlement price for in-the-money options.

NISM Common Derivatives

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