INDIA TODAY IS IN A VERY DIRE SITUATION AND BEWARE OF INTRA DAY TRADING AS IT COULD SEND YOU INCOME TAX NOTICES
AN INCOME TAX COMMISSIONER WAS HAVING MORE THAN 10 CRORES WORTH OF SHARES IN 2006 NOW IT MUST BE WORTH 100 CRORES AND HE WAS PREVIOUSLY IN THE VIGILANCE DEPARTMENT BUT NEVER GOT CAUGHT AND THERE ARE HUNDREDS LIKE HIM.
NOW A PERSON WITH ONLY 2 LAKHS OF INCOME IS BEING SENT NOTICE FOR 5 CRORES OF INTRADAY TRADING IN SHARES WHEREAS ACTUALLY HE USED ONLY MARGIN MONEY OF 30000 RUPEES AND LEGALLY IT IS ONT POSSIBLE TO TRADE IN CRORES AS IT REQUIRES SEBI REGISTRATION SO INDIVIDUAL TRADING IN HIS NAME WAS NOT POSSIBLE AND HE HAD ZERO SHARES IN HIS ACCOUNT. HE ALSO HAS ALMOST NIL PROPERTY WORTH ONLY 4-5 LAKHS IN TODAY TERMS IT IS NOTHING.
WHILE THESE INCOME TAX COMMISSIONERS HAVE CRORES OF RUPEES OF SHARES AND FULL PROOFS ARE AVAILABLE THEY NEVER GET NOTICES BUT HONEST PEOPLE WITH ONLY WHITE INCOME ARE GETTING NOTICES AGAIN AND AGAIN WHICH MEANT IT IS PURE HARASSMENT AND THAT ALSO THEY ASK FOR RECORDS OF YEARS BACK SO IF YOU CANNOT GET THOSE RECORDS WHICH MAY HAVE BEEN DESTROYED BY BROKERAGE FIRM OR NSE THEN YOU HAVE TO FACE THE CONSEQUENCES. THE PERSONS BANK TRANSACTIONS ALSO SHOWED ONLY A FEW LAKHS SO CRORES OF BANK TRANSACTION WAS ALSO ONT POSSIBLE AS HE DID ONT HAVE THE MONEY ALSO TO BUY AND KEEP THE SHARES AND HE HAD NO BLACK INCOME.
CAN WE NOT LIVE IN INDIA PEACEFULLY AND WITH DIGNITY AND FREEDOM AS AVAILABLE IN OTHER COUNTRIES.
A PERSON WAS DOING INTRADAY TRADING WITH 10000 RUPEES AND GOT TEN TIMES MARGIN OF ONE LAKSH. DAILY HE BOUGHT AND OLD SHARES IN INTRADAY ONLY AND TURNOVER REACHED 5 CRORES AND HE LOST ABOUT 50000 RUPEES IN BROKERAGE AND TAXES.
HE GOT INCOME TAX NOTICE FOR HAVING SHARES OF 5 CRORES WHEREAS HE HAD ONLY 50000 RUPEES IN HIS POCKET AND BANK AND ALL TRANSACTIONS WERE DONE THROUGH BANK.
SO PLEASE STOP DOING INTRA DAY TRADING AS THESE PEOPLE ARE TAKING EVERY CHANCE TO HARASS EVERYONE AND THE NOTICE COMES IMMEDIATELY.
NOW WHERE TO BRING 5 CRORES OF SHARES WHEN YOU HAVE ONLY 50000 RUPEES WITH WHICH YOU ARE TRADING AND THEY WANT YOU TO BRING 5 CRORES OF SHARES WHEN YOU DO NOT EVEN HAVE PROPERTY OF 2-3 LAKHS.
NOW WHEN THERE IS NO BANK TRANSACTION OF EVEN A FEW LAKHS HOW IS IT POSSIBLE TO BUY 5 CROES OF SHARES IF PERSON IS HAVING A VERY LOW INCOME AND HE DOES ONT EVEN HAVE PROPERTY OR MONEY.
