The income-tax (I-T) department has issued notices to 82 stock brokers after completing its long-drawn assessment in the case involving tax evasions by brokers through client code modifications on National Stock Exchange (NSE) in March 2010. In March 2010, unique client code modifications worth Rs 55,000 crore were made on NSE by 82 brokers in cash equity, equity derivative and currency segments. On NSE, client code modifications had seen a sudden jump during January to March in 2010. A source told DNA Money, "Most of the client code modifications on non-institutional clients raised the alarm at I-T department." The errors in the client code entry could either be due to the broker or the client's mistake.

Source: dna October 24, 2016 01:41 UTC