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AI Drafter ✕

Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.

Step 1 – Issue Identification & Review

The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.

• Review the issues identified by the AI
• Add, edit, remove, or refine issues as required


Step 2 – Draft Generation

Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.

• Relevant statutory provisions
• Judicial precedents and Supreme Court, High Court and other citations
• Issue-wise legal analysis
• Practical arguments and supporting content
• Professionally structured draft ready for further review.

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Membership Card Value for Networth Calculations of Members

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....ulations of Members 1. SEBI vide Circulars No SMD/SED/9012/93 dated May 14, 1993 and SMD/SED/CIR/93/22570 dated October 21, 1993 had specified, interalia, that the value of the membership card of the stock exchange would be considered as a non allowable asset and would not be considered for the computation of net-worth. 2. The issue of including the value of membership card as part of capital of....

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.... component of the capital. S.No. Period in which auction/sale last took place Percentage of haircut 1 0 to &le; 6 months 50 % 2 > 6 months to < 12 months 75 % 4. If the auction/sale of card has not taken place in the last 12 months then the card value shall not be considered for calculation of net-worth of the stock brokers. 5. While the card value as stipulated above may be considered....

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