FII & DII trading activity on NSE, BSE and MCX-SX 05-03-2013

Category		Buy	Sell	Net
		Value	Value	Value
FII		3439.84	3219.05	220.79
DII		1164.08	1408.88	-244.8

 

 

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FII DERIVATIVES STATISTICS FOR 05-Mar-2013

FII DERIVATIVES STATISTICS FOR 05-Mar-2013
	BUY		SELL		OPEN INTEREST AT THE END OF THE DAY
	No. of contracts	Amt in Crores	No. of contracts	Amt in Crores	No. of contracts	Amt in Crores
INDEX FUTURES	55505	1602.02	49320	1426.89	326806	9505.63	175.13
INDEX OPTIONS	367115	10617.80	341462	9808.25	1501613	43466.01	809.55
STOCK FUTURES	60710	1817.36	38116	1161.99	824913	24320.28	655.37
STOCK OPTIONS	34319	962.22	32660	907.22	74380	2109.83	55.00
						Total	1695.04

 

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5 March: Tax Talk :: Business Line

I have booked a flat which is under construction for Rs 80.6 lakh. I took a loan of Rs 50.5 lakh from a private bank and arranged the rest from my personal savings. The flat is expected to be handed over in November 2013. I have paid an interest of Rs 2,10,000 in FY 2011-12. However, I have not claimed I-T deductions till now. Can I claim it in FY 2012-13.

— S. Raja

Under the Income-tax Act, 1961, the annual value of the property consisting of any building or land appurtenant thereto owned by the tax payer is chargeable to tax under the head ‘Income from House Property’. An under construction flat is not chargeable to tax under this head as the same cannot be termed as ‘house property’. Therefore, no deduction of interest on loan can be claimed. However, once the construction is complete and you have obtained the possession, a deduction for the interest payable for the period prior to the financial year in which the flat has been constructed can be claimed in five equal instalments starting from the said financial year subject to fulfilment of conditions and the limits prescribed under the Act.

Hence, in your case where you will be able to take the possession in November 2013, the deduction of prior years’ interest payments shall be available in 5 equal instalments beginning FY 2013-14 subject to limits prescribed.

The tax saving FD offered by banks has the option of having joint holders. Do all the holders of such an FD claim tax rebate?

— Vishal S.

According to section 80C of the Income-tax Act, 1961, a deduction is allowed to the taxpayer, for a term deposit made according to Bank Term Deposit Scheme, 2006 (Scheme) for a period of 5 years or more with any notified scheduled bank. Such a fixed deposit may be opened in joint ownership. However, according to the Scheme, the deduction u/s 80C will be available only to the first holder of the deposit. Further, if the first holder is not the one who has contributed to the term deposit, the deduction may be denied to him.

Wheat futures testing lower support level ::: Business Line

Wheat futures traded on the Chicago Mercantile Exchange (CME) is considered the benchmark for tracking wheat prices in general. It was volatile last week, declining to an intra-week low of 692.7 cents a bushel before recovering its initial loss and finishing the week on an almost flat note at 713.2 cents. Wheat futures tumbled 9 per cent in February this year.

Ever since peaking out at its July 2012 peak of 947.2 cents, the commodity has been in an intermediate-term downtrend. While trending down, wheat futures broke through a key support at 850 and 750 cents in early December 2012 and early February.

In early January, the commodity conclusively breached its long-term moving average line (200-day). Subsequently, this average line acted as key resistance. Wheat futures is trading well below its 50- and 200-day moving averages.

Last week, wheat futures found base at around 700 cents and is currently testing this support. An emphatic breakthrough of this support will drag the commodity lower to 650 cents which is the next significant support level. Important support below 650 cents is positioned at 600 cents.

The daily as well as weekly relative strength indices are featuring in the bearish zone implying bearish momentum. Similarly, both daily and weekly moving average convergence divergence indicators are hovering in the negative territory.

However, an upward reversal from the present base level can take the commodity higher to 745 cents and then to 750 cents in the short-term. Next important resistance is pegged at 790-800 cents band. But only a strong breakthrough of the key trend-deciding level at 850 cents will reverse the intermediate-term downtrend and push the commodity northwards to 900 cents. Significant resistance above 900 cents is positioned at 950 cents.

The long-term trend has been up for wheat futures since its trough formed at 425 cents in June 2010. As long as wheat futures hovers above its key long-term base zone between 570 and 600 cents, its long-term uptrend will remain in place. Conclusive up-move above 950 cents will pave the way for a rally to 1,000 cents in the long-term horizon.