Prajna Capital - An Investment Guide

Here are some channels available to help you file your returns conveniently The financial year 2008-09 has come to an end and it is the time to start filing the income tax returns relevant to the assessment year 2009-10. The income may be from any one or more sources including salary, income from property, business and profession, capital gains, and income from any other source. In case the income from are required to file the tax returns. Tax is payable on the amount of income that exceeds the basic exemption limit. The requirements for filing of annual income tax returns are contained under Section 139 of the Income Tax Act. According to these provisions, every person having income in excess of the amount not chargeable to tax is required to file the returns. The returns need to be filed by July 31. Now it is compulsory to obtain and quote your Permanent all these sources during the financial year exceeds the basic exemption limit, you Account Number (PAN) in the returns. PAN is avai...

Is it necessary to have account with the same DP as broker has? No. Depository / DP can be chosen by you as per convenience irrespective of the DP of your broker. Whether my broker can also act as a DP? Yes he can. In fact most of the brokers are also registered as a depository participant so that they offer both the services and you also get the benefit of synergy in operations. However it is not compulsory for you to open a DP account with your broker. Whether depository participants are governed by any Rules and Regulations? Depository participants are governed by SEBI Act, 1992, Depositories Act, 1996, Securities and Exchange Board of India [Depositories and Participants] Regulations, 1996, Rules, Regulations and Bye laws of the respective depository with which he is registered as well as various directives of SEBI and depository issued from time to time. What are the documents to be signed with depository participant? Before opening an account with a depository participant, you ar...