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Indian Market, Regulation & Taxation

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Indian Market, Regulation & Taxation

SCORES

SEBI's online complaint redress system, through which investors lodge and track grievances against market intermediaries.

Test: the complaint concerns a SEBI-registered intermediary or listed company and is filed on the SCORES platform after approaching the entity directly qualitative Indian Market, Regulation & Taxation

SEBI

The Securities and Exchange Board of India, the statutory regulator of India's securities markets.

Test: the entity or activity falls within the securities market, bringing it under SEBI's registration, disclosure and enforcement powers qualitative Indian Market, Regulation & Taxation

SEBI Act

The 1992 statute that established SEBI as a statutory body and set out its powers over the securities market.

Test: the matter falls within the Act's scope, giving SEBI powers of registration, inspection, investigation, penalty and adjudication qualitative Indian Market, Regulation & Taxation

Section 80C

The Income Tax Act provision allowing a deduction for specified investments and payments, capped at ₹1.5 lakh a year.

Tax Saved = Amount Invested (up to ₹1.5 lakh) x Applicable Marginal Tax Rate ₹ Indian Market, Regulation & Taxation

Securities Appellate Tribunal

The statutory tribunal that hears appeals against orders of SEBI and certain other financial regulators.

Test: an appeal is filed against an order of SEBI, an exchange, a depository, the pension regulator or the insurance regulator, within the prescribed period qualitative Indian Market, Regulation & Taxation

Securities Lending and Borrowing

An exchange-regulated mechanism through which securities are lent for a fee and returned on a set date.

Lending Fee = Lending Rate x Value of Securities Lent x (Days Lent / 365) % Indian Market, Regulation & Taxation

Securities Transaction Tax

A tax levied on the value of transactions in securities on Indian exchanges.

STT = Transaction Value x Applicable Rate, which differs by segment and by whether the leg is a buy or a sell % Indian Market, Regulation & Taxation

Sensex

The BSE's benchmark index of 30 large Indian companies, weighted by free-float market capitalisation.

Index Value = (Current Free-Float Market Capitalisation of Constituents / Base Market Capitalisation) x Base Value index points Indian Market, Regulation & Taxation

Short-Term Capital Gain

A capital gain on an asset held for less than the qualifying period, taxed at a higher rate than a long-term gain.

Test: listed equity or equity-oriented fund units held for 12 months or less; other assets have longer qualifying periods ₹ Indian Market, Regulation & Taxation

Speculative Income

Income from transactions settled without delivery, which in Indian equity markets means intraday trading.

Test: the contract is settled otherwise than by actual delivery or transfer of the commodity or scrip ₹ Indian Market, Regulation & Taxation

Stamp Duty

A duty levied on the buy side of securities transactions, at rates uniform across India since 2020.

Stamp Duty = Buy-Side Transaction Value x Applicable Rate, which differs by segment %