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Revenue dept working on a mechanism to plug capital gains tax leakage

In past few years, cases of capital gains tax evasion through stock market transactions have been probed

Capital gains
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Shrimi Choudhary New Delhi
Having observed variations in capital gains tax computation, the revenue department is working on a mechanism to analyse futures and options (F&O) trade data and pre-initial public offering (IPO) transactions.

“The directorate of I-T systems is working on certain risk-assessment parameters to access the data, which could be on the basis of buying and selling prices of shares in F&Os, variations in margins, fair market value versus IPO prices, etc. The idea is to segregate and process the voluminous data on equity derivatives for effective use,” said a senior government official privy to the plan.

At present, the department receives huge amounts