Having observed variations in capital gains tax computation, the revenue department is working on a mechanism to analyse futures and options (F and 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 and 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.
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