NISM 10B Investment Adviser Level 2 Notes

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  • Speculative Income: Futures and options treated as speculative business.
  • Non-Speculative Income: Equity share gains not speculative.
  • DTAA Relief: Prevents double taxation on foreign equity income.
  • Section 10(38): Repealed; long-term gains now taxable under 112A.
  • Equity SIP: Each installment treated as separate investment for tax.

NISM 10B NISM Investment Adviser Level 2

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