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Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
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This circular revises position limits for trading members (TMs) in equity derivatives segment. Overall position limit for TMs (proprietary + client) is increased to higher of INR 7,500 crore or 15% of total open interest in market for index futures and options contracts. Position limits will continue to be applicable separately for index futures and options. To provide clarity, positions will be monitored based on previous day's total open interest. If market open interest drops, passive breaches beyond specified limits won't be penalized or require unwinding. The revised limits are effective immediately, while monitoring based on previous day's open interest will be implemented from April 1, 2025. Exchanges and clearing corporations must amend relevant bylaws/regulations accordingly and disseminate the circular.
This circular revises position limits for trading members (TMs) in equity derivatives segment. Overall position limit for TMs (proprietary + client) is increased to higher of INR 7,500 crore or 15% of total open interest in market for index futures and options contracts. Position limits will continue to be applicable separately for index futures and options. To provide clarity, positions will be monitored based on previous day's total open interest. If market open interest drops, passive breaches beyond specified limits won't be penalized or require unwinding. The revised limits are effective immediately, while monitoring based on previous day's open interest will be implemented from April 1, 2025. Exchanges and clearing corporations must amend relevant bylaws/regulations accordingly and disseminate the circular.
Note: It is a system-generated summary and is for quick reference only.
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