Details as reflected in the statement of account are as under:
Date of credit***
Particulars
Quantity
5.3.97
Purchased in the demat form on 27.2.1997
1500
16.6.97
Dematerialised shares that were originally purchased in Feb. 1990
6500
24.7.97
Purchased shares from the market on 15.7.1997
2000
7.9.97
Credit of bonus shares (2:5)
4000
12.11.97
Received a gift
2000
*** The above credits of securities are in the same account.
If 2500 shares were sold from this account on 1st Dec. 1997, then for calculating capital gains, which of the following shares will be taken into account by income tax authorities?
(a) 2000 which were credited on 12.11.1997 and 500 from the 4000 credited on 7.9.97.
(b) 1500 which were credited on 5.3.1997 and 1000 from the 6500 credited on 16.6.97.
(c) All 2500 from 4000 bonus shares received on 7.9.1997.
(a) Securities which are available for trading at NSE and BSE.
(b) Securities which are admitted for dematerialisation on both the depositories.
(c) Securities which are announced by SEBI for compulsory settlement in demat form on stock exchanges connected to the depository for all institutional investors.
(d) Securities which are announced by SEBI for compulsory settlement in demat form on stock exchanges connected to the depository for all categories of investors.
(a) Creation of new and complex derivative instruments.
(b) Guarantee of each outstanding position by the stock exchange.
(c) Clearing corporation is the legal counter party to each trade for settlement purposes and hence, leading to elimination of counter party risk from the system.
(d) Guarantee of settlements by the clearing corporation/ house given to a stock exchange.
(a) Has no role to play in settlement of dematerialised securities that are to be delivered in the unified (erstwhile physical) segments of connected stock exchanges.
(b) Replaces the clearing corporation/ house of the exchange that has established electronic connectivity with it.
(c) Facilitates settlement of both funds and dematerialised securities.
(d) Only plays the role of a facilitator in settlement of dematerialised securities in those exchanges which have established electronic connectivity with it.
(a) Re. 1/- subject to minimum Rs. 1000/- and maximum Rs. 5,000/- per quarter.
(b) Rs. 25/- (100*500*0.05/100) i. e. 5 basis points of market value of securities credited to broker PQR clearing member account from clearing corporation/ house.
(c) Rs. 0.50 (100*50*0.01/100) i. e. 1 basis point of market value of securities credited to broker PQR clearing member account from clearing corporation/ house, subject to minimum Rs. 2000/- and maximum Rs. 20,000/- per quarter.
(a) The surviving joint holder(s) to have an account in their name(s). They should submit a notarised death certificate to the Issuer/ its R and T Agent along with transmission form.
(b) On submission of notarised death certificate along with transmission form to the Issuer/ its R and T Agent, the deceased holders name will be deleted from the existing account.
(c) On submission of notarised death certificate along with transmission form to the DP, the deceased holders name will be deleted from the existing account.
(d) The surviving joint holder(s) to have an account in their name(s). They should submit a notarised death certificate to DP along with transmission form.
(a) Sending the same for registration in the name of three or less jointholders and then dematerislising them. They cannot be directly dematerialised in the name of more than three jointholders.
(b) Writing to NSDL and NSDL will decide on a case to case basis.
(c) Opening an account in the name of first three joint holders for the purpose of dematerialising these securities.
(d) Opening an account in the name of all the jointholders which account can be used only for the purpose of dematerialising these securities and delivering the same on sale.
Investor Accounts 