Thank you so much for this nice write-up.
You have nicely
summed up the all the valid points we discussed here in details,
like,
- If premium turnover is calculated, the ratio reduces to 2.5:1. It makes a really huge difference.
- Active retail trading community in India who already feel burdened by the multiple taxes & levies imposed on them (STT, GST, STCG, Stamp Duty, NSE Turnover charges) and now further restrictions to limit their participation in the derivative markets based on ITR declaration.
- For traders, trading is like a business and no other small business requires proof of previous income to undertake the venture. So the overwhelming feeling among them is, why should this be applicable for F&O trading?
with few nice add-on points from your side like,
They also feel that if borrowing is allowed in business, it is only fair that it should be allowed for investing too.
Yes, derivative trading is business according to the Govt & IT, so we derivative traders must expect a fair deal.
And most of the possible ill effects are also discussed in that article.
I wish SEBI must read that article. This article has come from interaction with real active traders.
Nice write-up. Publish it on money control also, if possible.