Types of Mutual Fund In terms of investment objective, Mutual Funds are classified as Equity fund, debt Fund & balanced fund. Equity Fund – In these schemes corpus of the fund mainly invest in the equities. These schemes are highly risky because return on the investment depends on the share market. In Equity Fund scheme
WHAT IS SPECULATION BUSINESS [SEC 43(5)] As per section 43(5) speculative transactions means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrip. In other words if any contract
SECTION 40(a) (ia) Sub clause (ia) of Section 40(a) has been inserted by the Finance (No. 2) Act 2004 relating to disallowance for non deduction of TDS. Under section 40(a)(ia) notwithstanding anything to the contrary in section 30 to 38, specified expenses shall not be deducted in computing income under the head profit and gains
1. Concept The concept of deemed dividend postulates two factors, whether the payment is a loan or advance to a shareholder or a concern in which the shareholder is substantially interested and whether on the date of payment there is accumulated profit. Closely-held companies having accumulated profits in which substantial voting power lies in the
Section 14A has been inserted from the assessment year 1962-63. It provides that no deduction shall be allowed in respect of expenditure incurred relating to exempt income. Assessee incurs both direct and indirect expenditure in relation to exempt income and in respect of direct expenses on exempt income it is always disallowed and makes no
